Seagis Property Group Acquires 30,058 SF Industrial Building in North Jersey

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Nov 16, 2023, 15:35 ET

EAST RUTHERFORD, N.J., Nov. 16, 2023 /PRNewswire/ -- Seagis Property Group ("Seagis") announced today that it closed on a warehouse facility located at 25 Amor Avenue in Carlstadt, NJ. The building totals 30,058 square feet, features 16' clear ceiling heights, and is situated on +/- 1.5 acres in the Gotham Industrial Park, located within the Meadowlands submarket of Northern New Jersey. The property has excellent access to the New Jersey Turnpike and close connectivity to Manhattan and Port Newark. Acquired vacant, Seagis plans to upgrade the property and market it for lease.

Seagis purchased the property from private ownership who owned and occupied the building for their business. Leo Josephs and Joshua Meisner of Leo Josephs & Company represented Seagis in the transaction.

"We are excited to add another well-located Northern New Jersey building to our growing Meadowlands portfolio," said Tyler Baker, Vice President, who is based out of Seagis' local office in Northern New Jersey. "We feel this property fits perfectly within the submarket, offering tenants a stand-alone 30,000 square foot building with four loading docks and 5% office. Upon closing, we plan to undergo a significant capital plan to bring this building to today's market standards. This opportunity perfectly aligns with our investment strategy, to secure well-located, functional warehouses in strong in-fill locations."

This is the Company's thirteenth investment in the Meadowlands submarket, where its portfolio now totals 1.34 million square feet and expands its overall NJ portfolio to over 5.7 million square feet and thirty-nine logistics properties.

For more information about this property, please contact Tyler Baker at [email protected]

About Seagis Property Group

Seagis Property Group is a privately held real estate owner focused on the acquisition and development of industrial properties in global logistics hubs along the Eastern Seaboard. The company's portfolio spans more than 13 million square feet of space and includes 213 buildings in New Jersey, New York City, and South Florida. Seagis acquires core, value-add and development real estate for warehouse/logistics use. The company was founded in 2005 and is headquartered in Conshohocken, Pennsylvania. For more information, visit www.seagisproperty.com

SOURCE Seagis Property Group