A 19,974-square-foot warehouse facility located at 333 Veterans Blvd. in Carlstadt has been purchased by Seagis Property Group, according to a Thursday announcement.
The building features 16-foot clear ceiling heights and is situated on 1 acre 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 vacant property from a private owner and plans to upgrade and market it for lease.
Tom Nuara, principal from Resource Realty, represented Seagis and the seller in this transaction.
“We are pleased to add another well-located northern New Jersey building to our growing Meadowlands portfolio,” Tyler Baker, vice president, who is based out of Seagis’ local office in North Jersey, said. “This property works well within the local market, offering tenants a standalone 20,000-square-foot building with three loading docks and under 10% office. Immediately upon closing, we plan to invest a significant amount of capital to bring the building to today’s market standards and align with our existing portfolio. This opportunity perfectly aligns with our investment strategy, to secure well-located, functional warehouses in strong in-fill locations. We will continue to seek out investment opportunities to increase our portfolio concentration in this submarket.”
This is the Seagis’ 14th investment in the Meadowlands submarket, where its portfolio now totals 1.36 million square feet, and expands its overall New Jersey portfolio to over 5.7 million square feet and 40 logistics properties.
