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Seagis Property Group LP (“Seagis”), one of New Jersey’s most active industrial real estate investors and owners, today announced it has closed on two, industrial real estate properties located at 1 & 11 Graphic Place in Moonachie, New Jersey. The two stand-alone buildings are 9,660 and 9,636 square feet and are situated within the highly desirable Meadowlands submarket. Both buildings were acquired vacant and Seagis plans to upgrade the properties and market them for lease.
Seagis purchased the properties from private ownership who owned and occupied the buildings for their business, Corporate Jet Support. Chris Koeck, Managing Director of Newmark, represented both Seagis and the seller in the sale transaction.
“This value-add opportunity located just outside of New York City perfectly aligns with our investment strategy to secure well-located, functional warehouses in a strong in-fill locations” said Tyler Baker, Vice President, of Seagis, who is based out of the company’s New Jersey office. “We are pleased to add to our growing Meadowlands portfolio with two, functional stand-alone buildings. We believe, upon our improvements that the buildings will be well positioned for one or two users who are servicing the local area or greater New York City population.
This is the company’s twelfth investment in the Meadowlands submarket, where their portfolio now totals over 1.7 million square feet. This acquisition expands Seagis’ New Jersey regional foothold to 7 million square feet and 150 logistics properties.
For more information about this property or Seagis’ New Jersey portfolio, please contact Tyler Baker at tbaker@seagisproperty.com
Seagis Property Group LP (“Seagis”) is a privately held industrial real estate owner and investor focused on the acquisition and development of properties located in logistically driven markets along the Eastern Seaboard. The company’s current portfolio spans more than 13 million square feet of space in New Jersey, New York, and South Florida. Seagis acquires stabilized core, core-plus, value-add and development real estate for logistics use. Since its inception in 2005, Seagis has successfully acquired and developed more than 14.3 million square feet of industrial space. Seagis is headquartered in Conshohocken, Pennsylvania, located in suburban Philadelphia. For more information, visit www.seagisproperty.com
