Sitex Group acquires Paramus industrial facility in sale-leaseback

Real estate firm Sitex Group has acquired a Paramus industrial property in a sale-leaseback deal, it announced this week.

The firm said an undisclosed transportation company sold the 40,000-square-foot property at 160 Route 17 N. to Sitex, and signed a long-term lease to remain located at the site, which it uses for a maintenance facility and parking hub.

“The acquisition of the Paramus property is a great example of our team continuing to acquire well-located, infill industrial assets throughout the New York metro area,” Blake Chroman, a principal with Sitex, said in a prepared statement.

Marc Imrem of Transwestern brokered the sale.