Sitex Group said Aug. 19 it acquired 160 Route 17 N. in Paramus from an unnamed transportation company and, in another transaction, signed Carvana to a full facility lease in Perth Amboy.
The transportation company signed a long-term lease to remain at the Paramus property, which is comprised of a 40,000-square-foot building on 6 acres, as it serves as a mission critical maintenance facility and parking hub for the company.
Marc Imrem of Transwestern brokered the sale.
Carvana, one of the country’s largest e-commerce auto retailers, signed a long-term lease at 440 Florida Grove Road in Perth Amboy. The property is comprised of a 13,000-square-foot vehicle maintenance building on 6 acres and is easily accessible to and from major transportation arteries. Carvana secured the property to support its fast growth in the region.
Larry Schiffenhaus, Tom Monahan and Steve D’Amato of CBRE brokered the transaction. Sitex acquired the Perth Amboy property earlier this year.
“The acquisition of the Paramus property is a great example of our team continuing to acquire well-located, infill industrial assets throughout the New York metro area. We are also excited about the Carvana lease and look forward to watching them grow their business with this property,” said Blake Chroman, a principal with Sitex.
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