Seagis Property Group Expands Northern New Jersey Industrial Portfolio with New Acquisition

Seagis Property Group Expands Its Footprint in Northern New Jersey

Seagis Property Group has just made a significant move in the Northern New Jersey industrial market by acquiring a spacious warehouse facility located at 745 Gotham Parkway, Carlstadt. This recently acquired property encompasses 31,472 square feet and is set on approximately 1.5 acres within the prominent Gotham Industrial Park, strategically positioned in the Meadowlands submarket.

The facility showcases impressive features, including 19-foot clear ceilings and a total of nine loading docks, making it exceptionally versatile for various operational needs. Its prime location also ensures excellent access to major transport links, including the New Jersey Turnpike, while being in close proximity to Manhattan and Port Newark, greatly enhancing its logistical potential.

In acquiring this property from a private owner, Seagis took a step towards further solidifying its presence in the rapidly growing Meadowlands area. Representing both Seagis and the seller in this transaction was Tom Nuara, a Principal at Resource Realty. Tyler Baker, Senior Vice President of Seagis, expressed enthusiasm about this acquisition, stating, "We are pleased to add another well-located, functional asset to our growing Meadowlands portfolio and our third property in the Gotham Industrial Park."

Baker emphasized the flexibility this facility offers, stating, "This property stands out to us given its overall flexibility to demise into one or multiple units as well as it's above average dock door count. We feel this building caters well to a single or multiple Customers looking to locate or grow within the submarket."

Immediately following the closure of the deal, Seagis plans to invest substantially in upgrading the facility, ensuring it meets today's market standards and aligns well with their existing portfolio. Baker noted that this acquisition aligns perfectly with the company’s investment strategy of securing well-located, functional warehouses within key logistics hubs.

This latest acquisition marks Seagis's fifteenth investment in the Meadowlands submarket, which now totals an impressive 1.41 million square feet dedicated to industrial space. Additionally, Seagis's overall portfolio in New Jersey has now reached over 6.3 million square feet across forty logistics properties.

Seagis Property Group has established a reputation for acquiring both core and value-add real estate assets, catering specifically to warehouse and logistics use. Founded in 2005 and headquartered in Conshohocken, Pennsylvania, the company has grown to encompass over 12.8 million square feet of space across 200 buildings in New Jersey, New York City, and South Florida.

For those interested in learning more about this property or other opportunities, Tyler Baker is available for inquiries at [email protected].

Conclusion

Seagis Property Group's acquisition at Gotham Parkway not only reflects its strategic plans for expansion in Northern New Jersey but also demonstrates the ongoing demand for versatile industrial spaces in prime locations. The company’s commitment to invest further in the property showcases its dedication to optimizing its real estate assets while catering to the evolving needs of logistics tenants.