Sitex Adds 83K SF Moonachie, NJ Warehouse to Portfolio
Sitex will renovate the property’s interior and exterior – as it has dozens of other properties in the area – improving functionality and aesthetics to appeal to corporate occupiers.
MOONACHIE, NJ—Sitex Group has acquired an 83,000-square-foot warehouse located at 131 West Commercial Ave. in Moonachie, NJ, from a private seller. Sale price was not disclosed.
“This acquisition is another example of executing our business plan to own quality warehouse facilities and development sites in the best locations,” says Blake Chroman, Sitex principal. “We’ve been the most active buyer of industrial real estate in Northern New Jersey because we pay market pricing and have the creativity and experience to get deals done.”
The warehouse can accommodate one or two occupants and features ceiling heights up to 20-foot clear and ample parking. Solar panels on the roof provide cost effective generation for the building’s heavy power supply.
The building’s highly visible location in the heart of the Meadowlands submarket is its most notable feature. Located less than ten miles from New York City, it’s an ideal spot for companies that want immediate access to Manhattan. Neighbors include Amazon, UPS, XPO Logistics, Ryder, Coca-Cola and Iron Mountain.
Approximately 50% of the building will be available for occupancy in the next 30 days. The other half is currently leased to a logistics company.
Sitex will renovate the property’s interior and exterior – as it has dozens of other properties in the area – improving functionality and aesthetics to appeal to corporate occupiers.