25 Amor Ave. in Carlstadt — Courtesy: Seagis Property Group
By Joshua Burd
Seagis Property Group has acquired more than 30,000 square feet of warehouse space in Carlstadt that it now plans to upgrade and market for lease, the firm announced.
In a news release, the firm said it purchased the building at 25 Amor Ave. from a private owner that had used the property for its business. The 30,058-square-foot structure was vacant at the time of the sale, providing an opportunity for Seagis to capitalize on its location near the New Jersey Turnpike and the region’s vast highway network.
Leo Josephs and Joshua Meisner of Leo Josephs & Co. represented Seagis in the transaction. Terms were not disclosed.
“We are excited to add another well-located northern New Jersey building to our growing Meadowlands portfolio,” said Tyler Baker, a vice president with Seagis’ local office. “We feel this property fits perfectly within the submarket, offering tenants a standalone 30,000 square foot building with four loading docks and 5 percent office. Upon closing, we plan to undergo a significant capital plan to bring this building to today’s market standards. This opportunity perfectly aligns with our investment strategy, to secure well-located, functional warehouses in strong infill locations.”
The building, which sits on 1.5 acres in the Gotham Industrial Park, has 16-foot clear ceiling heights. It also marks Seagis’ 13th acquisition in the Meadowlands submarket, where its portfolio now totals 1.34 million square feet, and expands its overall New Jersey portfolio to more than 5.7 million square feet across 39 logistics properties.
