SECAUCUS, NJ— MEPT, a $7 billion real estate equity fund advised by Bentall Kennedy is purchasing a 212,000-square-foot industrial facility, formerly Daffy's Distribution Center, located on 20 acres in Secaucus, New Jersey for $19.5 million.

HFF arranged the sale on behalf of  Sitex Group, the property owner.  The high profile site is located on Daffy's Way within a triangle made up of the Lincoln Tunnel toll road (Interstate 495), New Jersey Route 3 and the New Jersey Turnpike, one of the most trafficked thoroughfares in the U.S. providing access to various localities in New Jersey, Delaware, Pennsylvania and New York.  The location is 12.3 miles north of Newark Liberty International Airport and Port Newark/Elizabeth and less than five miles from Midtown Manhattan.

Managing director Michael Nachamkin led the HFF investment sales team.

“Our team is very pleased with the results of the sale and is excited about the opportunity to build a new working relationship with a great institutional investor,” says Brian Milberg, principal of Sitex. 

Sitex Group is a fully integrated private equity firm that specializes in real estate investment and property management.  SG's core objective is to acquire and develop industrial real estate located in the Chicago, New York/Northern New Jersey, and Southern California metropolitan submarkets. 

Bentall Kennedy, with nearly 500 clients and 134 million square feet of office, retail, industrial and multi-residential properties valued at more than $32 billion throughout North America, is one of North America's largest real estate investment advisors. Founded in 1982, and advised by Bentall Kennedy, MEPT is an open-end commingled real estate equity fund that invests in a diversified portfolio of institutional-quality real estate assets in the U.S. and is owned by more than 320 institutional investors.