Sitex continues North Jersey push, adding two warehouses

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In a news release, the firm said it purchased a 30,000-square-foot warehouse at 620 Gotham Parkway in Carlstadt from an undisclosed seller. Sitex plans to make several upgrades to the property, including updates to the façade, office space, lighting and sprinkler systems.

The sale price was not disclosed, the news release said. JLL’s David Knee and Gary Politi brokered the sale, while JLL will stay on to oversee leasing.

Sitex also acquired a 43,000-square-foot, multitenant warehouse at 429-449 Schiller St. in Elizabeth, the news release said. The property is 90 percent leased and includes small units ranging from 3,000 to 8,500 square feet, with a large trailer parking area.

Sitex is planning to improve the property by updating the building exterior and truck parking and loading areas.

Bussel Realty’s Jordan Metz brokered the sale and has been retained by Sitex to oversee leasing, Sitex said. The sale price was not disclosed.

“We have gained tremendous momentum this year, consistent with our intent to be a leading owner and developer in the country’s third-largest industrial market,” Sitex Senior Vice President Blake Chroman said in a prepared statement. “We believe these properties fit well within the Sitex portfolio and fill an important void in the market.  We are seeing significant demand for small, functional, professionally managed warehouse space near the port and New York City.”

In recent months, Sitex has acquired a 172,600-square-foot warehouse in Totowa and a 185,000-square-foot warehouse in Lyndhurst. Earlier this year, the firm broke ground on a 53,000-square-foot warehouse and distribution center at One Palmer Terrace in Carlstadt, while also acquiring Sharp Plaza, a 300,000-square-foot warehouse facility in Mahwah.