Seagis Property Group has closed on a warehouse facility located at 25 Amor Ave. in Carlstadt, New Jersey. The building totals 30,058 square feet, features 16-foot clear ceiling heights, and is situated on approximately 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. Acquired vacant, Seagis plans to upgrade the property and market it for lease.
Seagis purchased the property from private ownership who owned and occupied the building for their business. Leo Josephs and Joshua Meisner of Leo Josephs & Company represented Seagis in the transaction.
“We are excited to add another well-located Northern New Jersey building to our growing Meadowlands portfolio,” said Tyler Baker, Seagis vice president. “We feel this property fits perfectly within the submarket, offering tenants a stand-alone 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 thirteenth investment in the Meadowlands submarket, where its portfolio now totals 1.34 million square feet and expands its overall NJ portfolio to over 5.7 million square feet and thirty-nine logistics properties.
