Sitex completes two purchases in Totowa

In an effort to grow its portfolio in northern New Jersey, Sitex Group recently purchased two distribution centers in Totowa.

In an effort to grow its portfolio in northern New Jersey, Sitex Group recently purchased two distribution centers in Totowa.

“We’re excited to add these two properties to our portfolio, and we look forward to making 8 Vreeland available for occupancy next year,” Sitex Principal Blake Chroman said. “We expect strong interest in the building, given that the supply of modern warehouse space in North Jersey is very tight.” 

The properties, 8 Vreeland Ave. and 50 Furler St., were sold by a private investor. Sitex did not disclose sales prices.

At 125,000 square feet in total, 8 Vreeland offers 12,000 square feet of office space. It is occupied by Custom Index Inc. Sitex said it plans to renovate it when the tenant vacates next year.

The second property, 50 Furler, is leased to SK Custom Creations and features 55,000 square feet of space, three loading docks and 3,000 square feet of office space.

JLL’s Howard Weinberg arranged the transaction and will be retained to market 8 Vreeland Ave.

In the past two years, Sitex Group has acquired 11 industrial properties in northern New Jersey.