Sitex Building 200K SF Spec Logistics Center in Exit 12 Submarket

AVENEL, NJ —Sitex Group will develop a spec 200,000 state-of-the-art cross-dock distribution facility on the 20-acre site it acquired at 215 Blair Rd. in the Exit 12 submarket in New Jersey. The property already includes a 175,000-square-foot warehouse facility with four acres of trailer parking that the firm will renovate.

"This was a rare opportunity in one of the most active submarkets in the country," said Blake Chroman, a senior vice president at Sitex. "Inventory is tight while new construction is extremely rare. We're excited to be able to add a property with so much potential to our growing portfolio in Northern New Jersey."

Sitex, known for converting older, functionally obsolete properties into modern, core assets, will put its expertise to work at the former C&S Wholesale Grocers/White Rose Foods warehouse, immediately embarking on a multimillion dollar rehab project. When complete, the facility, which has 24' to 32' ceiling heights, ESFR sprinkler system and 37 loading docks, as well as a truck maintenance garage on site, will be transformed into a contemporary, distribution center featuring a new roof, façade and docks; new HVAC and lighting systems; repaved parking and loading areas; and updated office space.

In addition, Sitex will construct a 200,000-square-foot state-of-the-art logistics facility on spec with 36' ceiling height, 53 loading docks and several acres for trailer parking on site.

The Exit 12 submarket is experiencing a surge in interest by companies looking for facilities close to the New York metropolitan area, to accommodate regional and local distribution and increasingly popular "same day delivery" offered by online retailers. Amazon, FedEx, and Serta are among the companies making significant lease commitments in the submarket in recent months.

"It's no surprise that interest in the area is at an all time high. The Exit 12 submarket offers the ultimate accessibility for industrial users," says Chroman. "We are excited to be in a position to provide sophisticated users with the product they seek."

CBRE's Supply Chain and Logistics team of Mindy Lissner, executive vice president, William Waxman, executive vice president, Steven Beyda, vice president, Kevin Dudley, senior associate, Robert Pine, senior associate, Jennifer Ferrara, client services specialist and Susan Strauss-Rickwalder, client services specialist, represented both the buyer and seller in the transaction. CBRE has been retained as leasing agents for the property.

Sitex is one of the most active buyers and developers of industrial real estate in New Jersey. In the last 60 days the firm has closed on 60,000- and 30,000-square-foot warehouse facilities in Carlstadt; and a 43,000-square-foot, multi-tenant warehouse in Elizabeth, NJ. Other 2015 acquisitions include a 172,600-square-foot warehouse in Totowa, NJ; a 185,000-square-foot warehouse in Lyndhurst, NJ; and Sharp Plaza, a 300,000-square-foot warehouse facility in Mahwah, NJ.