Altogether, the latest dozen add up to some 650,000 sf of space; the buildings, which range from 17,000 to 100,000 sf, are 85% leased. Because the Meadowlands industrial market is one of tightest in the country with a vacancy rate of under 3%, Whitehall plans to launch a major interior and exterior upgrade to help get the remaining 15% leased up, according to company president Michael Nachamkin. Plans include new landscaping, facades, common areas and electrical and mechanical upgrades.

As part of the deal, Whitehall also acquired 30 acres of land with a development potential of 425,000 sf. The company has necessary approvals already in place and expects to start construction of a new 350,000-sf industrial building. The facility will be available for sale or lease as a build-to-suit.

"The Carlstadt portfolio represents our core strategy of obtaining value-added industrial properties," according to Nachamkin. He notes that Whitehall has acquired a total of 1.5 million sf of assets in its core market, which encompasses the Boston-to-Baltimore/Washington corridor.