Sitex buys industrial property, growing Hackensack presence

Sitex Group has acquired an industrial property in Hackensack, it announced this week.

The property at 600 S. River St. is a 40,000-square-foot maintenance facility sitting on 4.7 acres. Formerly occupied by Deluxe International Trucks, a repair company, it is slated to be improved and made available for lease, the real estate firm said in a news release.

“The pandemic has accelerated the e-commerce revolution and forced companies to adapt to growing demand from online customers,” Senior Vice President Zach McHugh said in a prepared statement. “That means increased investment in order to alleviate the pressure on logistics and same-day delivery.”

Financial terms of the deal were not disclosed.

Earlier this year, the firm acquired the neighboring parcels of land at 514 and 582 S. River St., giving it a total 15-acre industrial property.

CBRE’s Tom Monahan, Larry Schiffenhaus and Steve D’Amato brokered the sale and have been retained as exclusive leasing agents for the property.

“We remain laser-focused on our regional business plan of buying and building industrial facilities that meet the unique requirements of today’s sophisticated logistics users,” Sitex Principal Blake Chroman said in a statement.