800 Corporate Drive in Mahwah — Courtesy: Kassin Sabbagh Realty
By Joshua Burd
Sitex Group has purchased a nearly 85,000-square-foot industrial property in Mahwah for $20 million, in a recent transaction by Kassin Sabbagh Realty.
The deal at 800 Corporate Drive, which sits less than a mile west of Route 17, marks the second trade of the property since summer 2021. Kassin Sabbagh’s Isaac R. Setton and Bunny Escava brokered the most recent sale, they said, in which Sitex acquire the 84,240-square-foot building from an international seller.
Sitting on 8.5 acres, 800 Corporate is home to a light manufacturing facility. CBRE brokers in August 2021 said the building was fully leased and serves as a high-precision, light assembly facility for dental implant products.
At the time, the now-former owner paid $15.6 million to purchase the asset from AVR Realty. CBRE brokered the prior trade, noting that Nobel Biocare had occupied the space for more than 16 years and invested a significant amount of capital to build out the highly specialized facility.