745 Gotham Parkway in Carlstadt — Courtesy: Seagis Property Group
By Joshua Burd
Seagis Property Group has closed on its latest property in Carlstadt, adding more than 31,000 square feet to its Meadowlands industrial portfolio.
According to a news release this week, the firm paid an undisclosed price in the transaction at 745 Gotham Parkway. It noted that the 31,472-square-foot building, which has 19-foot clear ceiling heights, sits on roughly 1.5 acres in the Gotham Industrial Park and is minutes from several major highways, making it easy to access from the New Jersey Turnpike and destinations such as Manhattan and Port Newark-Elizabeth.
Tom Nuara, a principal with Resource Realty, represented both the private seller and Seagis in the deal.
“We are pleased to add another well-located, functional asset to our growing Meadowlands portfolio and our third property in the Gotham Industrial Park,” said Tyler Baker, a senior vice president based in Seagis’ local office in East Rutherford. “This property stands out to us given its overall flexibility to demise into one or multiple units as well as its above-average dock door count with nine loading docks on (about) 31,000 square feet. We feel this building caters well to a single or multiple customers looking to locate or grow within the submarket.
“Immediately upon closing, we plan to invest a significant amount of capital to bring the building to today’s market standards and align with our existing portfolio. This opportunity perfectly aligns with our investment strategy, to secure well-located, functional warehouses in strong infill locations. We will continue to seek out investment opportunities to increase our portfolio concentration in this submarket.”
The transaction marks Seagis’ 15th investment in the Meadowlands submarket, where its portfolio now totals 1.41 million square feet, and expands its overall New Jersey holdings to more than 6.3 million square feet across 40 logistics properties.
