Seagis Property Group recently closed on a warehouse facility located at 25 Amor Ave. in Carlstadt.
With the property acquired vacant, Seagis plans to upgrade it and market it for lease.
The 30,058-square-foot building features 16-foot clear ceiling heights and is situated on 1.5 acres in the Gotham Industrial Park, located within the Meadowlands submarket of northern New Jersey. The property has excellent access to the New Jersey Turnpike and close connectivity to Manhattan and Port Newark.
Seagis purchased the property from private ownership, who owned and occupied the building for their business. Leo Josephs and Joshua Meisner of Leo Josephs & Co. represented Seagis in the transaction.
“We are excited to add another well-located northern New Jersey building to our growing Meadowlands portfolio,” Tyler Baker, a vice president who is based out of Seagis’ local office in northern New Jersey, said. “We feel this property fits perfectly within the submarket, offering tenants a standalone 30,000-square-foot building with four loading docks and 5% office. Upon closing, we plan to undergo a significant capital plan to bring this building to today’s market standards. This opportunity perfectly aligns with our investment strategy, to secure well-located, functional warehouses in strong in-fill locations.”
This is the company’s 13th investment in the Meadowlands submarket, where its portfolio now totals 1.34 million square feet, and expands its overall New Jersey portfolio to over 5.7 million square feet and 39 logistics properties.