M id A tlantic Real Estate Journal — Northern New Jersey — September 11 - 24, 2020 — 9B N orthern NJ
www.marej.com
ACKENSACK, NJ & THE BRONX, NY — Sitex Group (Si- CBRE’s Monahan, Schiffenhaus &D'Amato broker sale of 600 South River St. in Hackensack Sitex buys two industrial facilities in Hackensack, NJ and Bronx, NY H transaction.
adjacent parcels at 514 – 582 South River St. and now con- trols 15 acres, making it one of the larger industrial sites in the area. CBRE’s Tom Monahan, Larry Schiffenhaus and Steve D'Amato brokered the sale. 1155 Commerce Ave. in the Bronx is a 25,760 s/f warehouse with 8,000 s/f of parking. It is currently occupied by the NYC Department of Sanitation.
Sitex continues to leverage its expertise to source attrac- tive investment opportunities throughout the New York/ New Jersey area. Other 2020 acquisitions include a 172,000 s/f warehouse at 1201 Valley Brook Ave. in Lyndhurst, NJ, and a 22.5-acre site in West- bury, NY. “We remain laser focused on our regional business plan of buying and building industrial facilities that meet the unique requirements of today’s sophis- ticated logistics users,” added Sitex principal Blake Chro- man . MAREJ
tex) has added two industrial properties to its portfolio. The acquisitions include 600 South River St. in Hackensack, NJ and 1155 Commerce Ave. in the Bronx, NY. “The pandemic has acceler- ated the ecommerce revolution and forced companies to adapt to growing demand from on- line consumers. That means increased investment in order to alleviate the pressure on logistics and same day deliv- ery,” said Sitex senior VP Zach McHugh . 600 South River St. is 4.7 acres with a 40,000 s/f main- tenance facility. Formerly oc- cupied by Deluxe International Trucks, Sitex plans to improve the property and make it avail- able for lease. With its excellent location and abundant parking area, Sitex expects strong inter- est from companies with large vehicle fleets. The acquisition of 600 South River St. completes a land as- semblage Sitex has worked on for the last few years. Earlier this year, Sitex acquired the BNE Real Estate Group delivers ONE500 in Teaneck, NJ TEANECK, NJ — Leas- ing is underway at One500 in Teaneck, NJ where BNE Real Estate Group has delivered 228 stylish apartments and a wealth of modern amenities to one of Bergen County’s most dynamic and well-located com- munities. Located at 1500 Teaneck Rd., One500 is nestled in the heart of Teaneck. The boutique five-story build- ing, designed by Minno & Wasko Architects & Plan - ners , features studio, one and two-bedroom residences, with den layouts, balconies and patios available in select resi- dences. “There’s a discernable shift in the marketplace right now from crowded urban areas to suburban, low-density settings with more open space.” said Jacqueline Urgo, President of The Marketing Directors. “One500 and its Teaneck ad- dress perfectly fits the bill, and its widespread appeal is imme- diately translating to impres- sive leasing velocity.” MAREJ
Greiner Maltz’s Atanu Bhattacharjee, Waterstreet Capital’s Carl Bronstein and Douglas Elliman Commer- cial’s Rick Dana arranged the ADVOCATE. ADVISER. ALLY.
600 South River St. in Hackensack
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