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Acquisition
November 20, 2023
East Rutherford, NJ (November 16, 2023) – 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 tbaker@seagisproperty.com
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.