12B — November 13 - 26, 2015 — New Jersey — M id A tlantic
Real Estate Journal
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N ew J ersey Bussel Realty’s Jordan Metz brokers sale of 43,000 s/f Sitex Group acquires two properties totaling 73,000 s/f
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The firm recently closed on a 30,000 s/f warehouse facility located at 620 Gotham Park- way in Carlstadt – the heart of the highly desirable Mead- owlands submarket. Aside from its excellent location, the building has an above-stan- dard parking ratio and is 100% air-conditioned. Sitex plans to make several upgrades to the property, including updating the façade, office space, light- ing and sprinkler systems. The seller was a private in- vestor. The sale price was not disclosed. JLL ’s David Knee and Gary Politi brokered
ORTHERN NJ – Si- tex Group (Sitex) , the New York-based
the sale. JLL will stay on to oversee leasing. Sitex also purchased a 43,000 s/f, multi-tenant ware- house located at 429-449 Schil- ler St. in Elizabeth. The prop- erty is 90% leased and located minutes from the Port of New- ark/ Elizabeth and Newark’s Liberty International Airport. It is comprised of small units (ranging from 3,000 to 8,500 s/f) with a large trailer parking area. Sitex is planning to im- prove the property by updat- ing the building’s exterior and truck parking/loading areas. Bussel Realty ’s Jordan Metz brokered the sale and has been retained by Sitex to oversee leasing. The sale price was not disclosed. “We believe these proper- ties fit well within the Sitex portfolio and fill an important void in the market. We are seeing significant demand for small, functional, profession- allymanaged warehouse space near the port and New York City,” added Chroman. n Giantomasi elected vicechairofNBIMC’s board of trustees WEST ORANGE, NJ — Chiesa Shahinian & Gianto- masi PC (“CSG”) announced (“NBIMC”) board of trustees. Over the course of three de- cades practicing law, Gianto- masi has become a sought- after authority in planning, zoning and development law, including tax abatement law for the City of Newark and other urban areas. Serving as chief development counsel, Giantomasi has played an influential role in many of the Newark area’s most signifi- cant recent development and redevelopment projects. Prior to his election as vice chair of NBIMC’s board of trustees, Giantomasi served on the board as a member. He currently sits on the board of directors of the Newark Re- gional Business Partnership and as trustee for the Essex County Bar Association. n Francis Giantomasi that named member of the firm Francis J. Gianto- masi was re- cently elected to serve as vice chair of Newark Beth Israel Medi- cal Center’s
private equity firm special- izing in industrial real estate investment, development and asset management, has added two more properties to its growing Northern New Jersey portfolio. “We have gained tremen- dous momentum this year con- sistent with our intent to be a leading owner and developer in the country’s third largest industrial market,” said Sitex senior vice president Blake Chroman .
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