360 Kingsland Ave. in Brooklyn — Courtesy: Sitex Group
By Joshua Burd
Sitex Group is marking its largest quarterly leasing total in its 23-year history, touting a stretch in which it secured tenants for nearly 350,000 square feet of industrial space.
The firm, which is based in Englewood, said the deals include a 65,000-square-foot commitment by Warshaw Inc. at 980 New Durham Road in Edison. In a separate third-quarter transaction, it leased 30,000 square feet at 4 Gladys Court in Edison to Core Pharma.
The transactions and other Q3 deals reflect what Sitex says is sustained demand for well-located infill properties in the New York metro industrial corridor. The private equity firm added that, with its portfolio stabilized and significant capital to deploy, it’s now actively seeking new investment opportunities in the form of infill acquisitions and development in New York City, New Jersey, Long Island and Westchester County.
“We believe in this market and are well-positioned to capitalize on new opportunities to grow our portfolio,” said Max Fuchsman, a vice president with Sitex.
Some of the firm’s other Q3 deals include:
- A lease renewal with a global logistics company for a four-acre trailer parking lot and maintenance garage at Zuckerberg Industrial Park in Saddle Brook
- A lease by Academy Bus for a five-acre site improved with a 40,000-square-foot building at 600 South River St. in Hackensack
- A lease by Edge Auto for a 2.25-acre site with a 17,000-square-foot building at 360 Kingsland Ave. in Brooklyn, New York
