Zuckerberg’s Industrial Park in Saddle Brook, a 640,000-square-foot, 40-acre campus comprised of 50 buildings and a 4-acre trailer parking lot, has traded for the first time in the property’s history.
A Monday announcement from Sitex Group, the industrial park’s new owners, said the property had been closely held by the Zuckerberg family for three generations.
Located at 300 N. Midland Ave., tenants include large, notable companies such as UPS, SERVEPRO and Johnstone Supply, along with many local companies. The park offers high visibility and convenient access to Interstate 80 and the Garden State Parkway, as well as the Ports of Newark/Elizabeth, Newark Liberty International Airport and New York City. Location, coupled with robust demand for small warehouse space in northern New Jersey, has kept occupancy at 90%-plus for years.
“We are thrilled to acquire the park,” Sitex Principal Blake Chroman said. “Buying an industrial park of this size in prime infill New Jersey — particularly in Bergen County — is incredibly rare. Over the past decade, we built a relationship with the sellers and always hoped that we would own it someday. We are grateful that the Zuckerberg family selected us to be the new owners.”
Added Sitex Vice President Jackson Kaplan, “We have the right team in place, which enabled us to navigate the complexities of this transaction and swiftly close.”
As new owners, Sitex intends to honor the Zuckerberg family legacy while modernizing the park for the next generation of ownership. Planned improvements include paving, lighting, new signage and updated building interiors.
“This was a very unique acquisition opportunity and is another example of our longtime strategy of buying and repositioning industrial properties in key infill locations throughout New York and New Jersey,” Chroman said.
