152 West Street St. in South Plainfield — Courtesy: Sitex Group
By Joshua Burd
Sitex Group has acquired the site of a 22,000-square-foot commercial building in South Plainfield that it plans to repurpose as an industrial outdoor storage property.
The real estate firm said the facility, 152 West Street St., served as a claims center for Progressive Casualty Insurance for roughly 10 years before the company opted to close it and put it on the market. That paved the way for the deal with Englewood-based Sitex, which paid an undisclosed price for the 4.1-acre property just off Interstate 287.
The firm will now look to reposition the site into a modern, low-coverage industrial property designed to appeal to companies with vehicle fleets or a need for outside storage. Doing so will leverage the site’s significant land area and access to the highway at Exit 4, as well as features such as three overhead doors.
“Properties like 152 West Street are increasingly scarce in northern and central New Jersey, particularly those offering strong highway visibility and meaningful outdoor space,” said Blake Chroman, a principal at Englewood-based Sitex Group. “This site fits exceptionally well within our portfolio of hyper-infill logistics facilities, and we see a clear opportunity to reposition it for modern industrial demand.”
The deal marks Sitex Group’s second acquisition from Progressive, following its purchase of 290 Veterans Blvd. in Rutherford.
“We worked collaboratively with the municipality to expand the property’s list of permitted uses, and we look forward to making further investments in South Plainfield as we execute our plan for the property,” said Max Fuchsman, vice president at Sitex Group.
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