Sitex Group has sold a 113,743-square-foot light industrial portfolio at 119, 175 and 182A and B Hill St. and 43 Hickory St. in Orange — Courtesy: Cushman & Wakefield
By Joshua Burd
Sitex Group has sold a nearly 114,000-square-foot portfolio of light industrial buildings in Orange, directly north of Interstate 280, in a transaction arranged by Cushman & Wakefield.
According to the brokerage team, affiliates of Westbrook Partners and Camber Real Estate Partners purchased the properties at 119, 175 and 182A and B Hill St. and 43 Hickory St. in Orange. C&W noted that the 113,743-square-foot portfolio is leased to 22 tenants, with unit sizes ranging from 2,500 to 13,500 square feet and each space featuring individual storefronts and loadings docks.
Terms of the deal were not disclosed.
“Shallow bay, multi-tenanted infill product is limited in this region, with no notable construction in the pipeline,” C&W’s Gary Gabriel said. “The buyer recognized the scarcity of inventory and the ability of the park to cater to a wide variety of occupiers.”
Gabriel, Kyle Schmidt, David Bernhaut and Ryan Larkin represented Sitex Group in the deal.
