310 Paterson Plank Road in Carlstadt — Courtesy: Sitex Group
By Joshua Burd
Sitex Group has acquired a vacant 30,000-square-foot warehouse in Carlstadt, the latest addition to its portfolio of Meadowlands industrial buildings.
The Englewood-based firm announced that it purchased 310 Paterson Plank Road from a private investor, touting its location near the New Jersey Turnpike, Port Newark-Elizabeth and New York City. It’s now in the midst of upgrades at the property that include renovating the office space and updating lighting, loading and HVAC systems.
Jeff Chaus of Chaus Realty brokered the sale, the terms of which were not disclosed.
“We are excited to add this property to our portfolio,” Sitex Principal Blake Chroman said. “It speaks to our proven track record of acquiring well-located, high-quality industrial assets and repositioning them to appeal to sophisticated users of logistics space.”
Sitex has also retained Chaus to handle leasing for the property, noting that it expects strong interest from users that need to be located near Bergen County, New York City or the region’s port terminals. The building features two loading docks, one drive-in door, 20-foot clear ceiling heights, 3,000 square feet of office space and parking on all four sides.
The acquisition is Sitex’s latest, even during the pandemic, following other recently added buildings such as a 172,000-square-foot warehouse in Lyndhurst, a 22.5-acre site in Westbury, New York, and a 10-acre site in Hackensack. The firm said it continues to look for acquisition and development opportunities throughout both states.