Sitex Group holds wall-raising for Mahwah industrial property

By Eric Strauss
Mahwah | Oct 2, 2017 at 11:24 am
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The Sitex Group was joined by officials from real estate firm NAI James E. Hanson and Mahwah at a wall-raising ceremony for its new 271,000-square-foot industrial building project in the township.

The building, One Sharp Plaza, will be part of the Stateline Business Park in Mahwah, with NAI Hanson serving as exclusive listing agent.

Ken Lundberg and Patrick Lennon are leading the assignment for NAI Hanson.

“The beginning of the One Sharp Plaza project marks the successful merging of a shared vision by a developer, the Sitex Group, and a municipality to bring an important project to life,” Lundberg said in a prepared statement. “This project has been created with the needs of today’s distribution users in mind and presents a significant opportunity for the township of Mahwah to bring a leading e-commerce company to town. We look forward to helping to secure a tenant for the space and ensure that this project will be a valuable economic contributor for the township.”

NAI Hanson said the building is expected to be completed in the first quarter of 2018, and will include features such as 36-foot clear ceiling heights, 36 dock doors and parking for 25 trailers and 184 cars.

The building sits on 20.74 acres in the Bergen County municipality.

“The Bergen County industrial market has seen a highly restricted supply of new Class A warehouse and distribution-oriented facilities in the last few quarters,” Lennon said in a statement. “Demand for these spaces, however, remains quite high as more e-commerce companies are seeking accessible spaces in the Bergen County market. This project will provide this hot market with an in-demand and attractive property geared to today’s modern industrial tenant.”