TOTOWA, NJ —Sitex Group has acquired a 172,600-square-foot warehouse at 55 Shepherds Lane in Totowa, NJ, and is planning a significant capital improvement campaign to modernize the facility. The seller and terms of the transaction were not disclosed.
“This was a unique opportunity for us to acquire a well-located warehouse facility and implement our proven redevelopment strategy,” says Sitex Group senior vice president Blake Chroman. “We're confident that the property's size, location, and specifications will appeal to many different types of users.”
The warehouse is on 8.6 acres and features 20' to 30' clear ceiling height, 12 loading docks, heavy power and abundant parking. The property is less than two miles from I-80 (Exit 55A/Union Boulevard) and provides direct access to New York City and the New Jersey Turnpike as well as an abundant labor pool in surrounding counties. For companies that must be near the city, the Port of Newark/Elizabeth or Newark's Liberty International Airport, it is an ideal location for business.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
