Seagis Property Group Acquires 96,500 SF Industrial Building in North Jersey

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Apr 10, 2023, 16:19 ET

EAST RUTHERFORD, N.J., April 10, 2023 /PRNewswire/ -- Seagis Property Group announced today it has closed on a warehouse facility located at 130 Essex Avenue East in Avenel NJ. The building totals 96,500 square feet and is located within the Ports submarket of Northern New Jersey. The building features 23' clear ceiling heights and is situated on 6.5 acres providing significant outside storage and parking capability. The property is two miles from Exit 12 of the NJ Turnpike and 10 miles from Port Newark. Seagis purchased the property from a private owner who will occupy the building on a short-term basis after closing.

"We are excited to add this high-quality building with a great parking setup, an amenity that remains in high demand from industrial users in Northern New Jersey. This opportunity perfectly aligns with our investment strategy to secure well-located, functional warehouses in strong in-fill locations and upgrade them to today's market standards" said Tyler Baker, Vice President, who is based out of the Company's East Rutherford NJ office.

This is the Company's sixteenth investment in the Ports submarket, where its portfolio now totals 2.5 million square feet and expands its overall NJ portfolio to nearly 6 million square feet and thirty-eight 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 215 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 which was founded in 2005 is headquartered in Conshohocken, Pennsylvania. For more information, visit www.seagisproperty.com

SOURCE Seagis Property Group