Sitex senior vice president Blake Chroman

CARLSTADT & HASBROUCK HEIGHTS, NJ—Continuing its momentum from 2015, Sitex Group has added two more industrial properties to its expanding portfolio to start the new year.

“We're excited to add these high-quality buildings to our portfolio. There has always been strong demand for small, single occupant buildings in the Meadowlands submarket. That demand has increased recently with the prevalence of e-commerce and the increasing number of companies that have moved from New York's outer boroughs to New Jersey,” says Sitex senior vice president Blake Chroman.

The first is a 42,000-square-foot warehouse on 2.5 acres located at 10-12 Plant Road in Hasbrouck Heights. Owned by the same family for decades, the facility has never changed hands until now. It is currently leased to an auto wholesale company. Sitex plans to update the property for today's modern user with plans that call for repaving the parking lot, painting inside and out, installing new warehouse lighting and renovating the office component.

The additional acreage for parking as well as the property's direct access to New York City, the ports, I-80 and the NJ Turnpike – unique characteristics to the market – made this an attractive opportunity.

In the second acquisition, Sitex picked up a 30,000-square-foot warehouse featuring 16' clear ceiling height and three loading docks at 100 Triangle Blvd. in Carlstadt. The seller, another private family who had owned the property for years, will lease the building for a short time following the sale. When they vacate, Sitex will renovate the building and offer it for lease. Once again location made this an attractive opportunity.

Sitex is one of the most active buyers and developers of industrial real estate in New Jersey. The firm recently purchased a 175,000-square-foot warehouse facility in Avenel, NJ; a 60,000-square-foot warehouse facility in Carlstadt, NJ; a 172,600-square-foot warehouse in Totowa, NJ; and a 185,000-square-foot warehouse in Lyndhurst, NJ; a 30,000-square-foot warehouse also in Carlstadt, NJ; and a 42,000-square-foot facility in Elizabeth, NJ.

CARLSTADT & HASBROUCK HEIGHTS, NJ—Continuing its momentum from 2015, Sitex Group has added two more industrial properties to its expanding portfolio to start the new year.

Instant Insights /

Sitex Group Adds Two More Industrial Properties in Northern New Jersey

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