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Outer Boroughs NYC
December 18, 2020
December 18, 2020 – Bronx, NY – Seagis Property Group announced today that it has acquired a 7,500 square foot industrial building with an adjoining 12,000 square foot parking lot. The property is located at 1318 Randall Avenue at the corner of Bryant Avenue in the Hunts Point neighborhood of the Bronx.
Seagis purchased the property 50% occupied and will be marketing the available space for lease. This is Seagis’ f irst acquisition in the Bronx and increases the Company’s portfolio in the Boroughs of New York City to 56 buildings totaling 1.2 million square feet.
“We purchased 1318 Randall Avenue because of its strategic niche within the Hunts Point industrial submarket which sees the lowest vacancy and deepest pool of potential tenants. We are excited to establish a foothold in the Bronx and add this property to our growing Outer Boroughs portfolio” said Mac Lee, Director with Seagis Property Group 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.