Seagis Property Group on Monday announced it recently acquired a warehouse facility located in Avenel. Seagis purchased the property from a private owner, who will occupy the building on a short-term basis after closing.
Located at 130 Essex Ave. E., the building totals 96,500 square feet and is situated within the Ports submarket of Northern New Jersey. The building features 23-foot clear ceiling heights and sits on 6.5 acres — providing significant outside storage and parking capability. The property is two miles from Exit 12 of the New Jersey Turnpike and 10 miles from Port Newark.
“We are excited to add this high-quality building with a great parking setup, an amenity that remains in high demand from industrial users in northern New Jersey. This opportunity perfectly aligns with our investment strategy to secure well-located, functional warehouses in strong in-fill locations and upgrade them to today’s market standards,” Tyler Baker, vice president, who is based out of the company’s East Rutherford office, said.
This is the company’s 16th investment in the Ports submarket. Seagis’ portfolio now totals 2.5 million square feet and expands its overall New Jersey properties to nearly 6 million square feet and 38 logistics properties.