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Outer Boroughs NYC
January 10, 2020
January 10, 2020 – Brooklyn, NY – Seagis Property Group announced today that it has acquired a 35,500 square foot single-story warehouse building with an adjoining 10,000 square foot parking lot.
The property is located at 132 54th Street at the corner of 2nd Avenue in the Sunset Park neighborhood of Brooklyn. Seagis purchased the property vacant and is now marketing it for lease. This acquisition increases the Company’s portfolio in the Boroughs of New York City to 61 buildings totaling 1.2 million square feet.
“132 54th Street presented an opportunity to acquire a warehouse with compelling physical characteristics including a 10,000 square foot paved and secured yard in a location that benefits from immediate proximity to I-278 and public transportation. We believe these features will drive value over the long term and we are excited to add this asset to our New York City portfolio” said Mac Lee, Director with Seagis Property Group and based out of the company’s Brooklyn office.
Seagis Property Group LP (“Seagis”)
Seagis Property Group LP (“Seagis”) is a privately held industrial real estate owner and investor focused on the acquisition and development of properties located in logistically driven markets along the Eastern Seaboard. The company’s current portfolio spans more than 13 million square feet of space in New Jersey, New York, and South Florida. Seagis acquires stabilized core, core-plus, value-add, and development real estate for logistics use. Since its inception in 2005, Seagis has successfully acquired and developed more than 14.3 million square feet of industrial space. Seagis is headquartered in Conshohocken, Pennsylvania, located in suburban Philadelphia.