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Seagis Acquires 500K SF Linden, NJ, Industrial Asset for $42.75M

LINDEN, NJ—Planned improvements include roofing, new entrances, new building facades and windows, modernization of the building's 98 loading doors and five drive-in dock doors, as well as the installation of T5 lighting.

By Steve Lubetkin | stevelubetkin | Updated on January 17, 2017

340 Stiles Street, Linden, NJ 340 Stiles Street, Linden, NJ

LINDEN, NJ—Seagis Property Group has acquired a 504,000 square foot industrial property at 340 Stiles Street in Linden, NJ from 500 West Edgar. Also known as the Cantor Distribution Plaza, 550 W. Edgar Road, the property sold for $42.75 million, or $85 per square foot, according to Real Capital Analytics, a proprietary research database firm.

Seagis will undertake a multi-million-dollar renovation at 340 Stiles Street, scheduled for completion in spring 2017. Planned improvements include roofing, new entrances, new building facades and windows, modernization of the building’s 98 loading doors and five drive-in dock doors, as well as the installation of T5 lighting.

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