30 Abeel Road in Monroe — Courtesy: Sitex Group
By Joshua Burd
Sitex Group has acquired a 26,000-square-foot warehouse in Monroe, adding to its portfolio in the well-known Exit 8A submarket along the New Jersey Turnpike.
Located at 30 Abeel Road, the 5.2-acre property is less than two miles from the highway and boasts features such as a 36-foot clear ceiling height, one overhead door and existing crane infrastructure. It also has what Sitex described as a headquarters-quality image, as well as significant exterior space that could serve companies with a vehicle fleet or outside storage requirements.
Mike Kimmel of KBC Advisors brokered the sale and, along with his team, will
serve as leasing agent for the property moving forward. Terms were not disclosed.
“This acquisition is a great example of Sitex continuing to acquire unique, high-quality, infill logistics properties in the most competitive markets in the country, ” said Blake Chroman, a principal at Englewood-based Sitex Group. “This acquisition aligns perfectly with our strategy and expands our presence in one of New Jersey’s most important logistics corridors.”
Max Fuchsman, a vice president at Sitex, added: “The property’s proximity to Exit 8A and its visibility from the Turnpike, which accommodates roughly 560,000 vehicles daily, make it a compelling long-term investment. We look forward to making select improvements to the property to maximize its functionality for the future.”
