Exclusive: Seagis Lands $200M for Amazon New Jersey Facility

October 30, 2026

Industrial Finance New York News More Northeast

Northwestern Mutual provided the note.

Exterior image of an industrial building leased by Amazon at 2170 Lincoln Highway, in Edison, N.J. — The building at at 2170 Lincoln Highway has 40-foot clear heights and 122 dock-high doors. *Image courtesy of Yardi Matrix*

Seagis Property Group has received a $200 million loan for a 923,000-square-foot industrial facility in Edison, N.J., according to Yardi Matrix information. Northwestern Mutual issued the 10-year note.

Amazon fully occupies the property, which serves as one of its fulfillment centers.

The 2017-built warehouse occupies a 50-acre site at 2170 Lincoln Highway. The location is close to Interstate 287 and its interchange with State Route 1, an area serving as a critical logistics hub, allowing access throughout the New York Tri-State area. Newark Liberty International Airport and Port Newark-Elizabeth are some 22 miles away.

Seagis broke ground on the property known as Seagis Gateway 10 in 2016. At the time, it was Northern New Jersey’s largest industrial spec project. The building features 40-foot clear heights, 122 dock-high doors, four grade-level doors, ESFR sprinkler systems and a two-level office component. The property also includes 371 trailer and 356 car parking spaces.

Amazon leased the facility in 2017, as part of an expansion move involving 3 million square feet across New Jersey, according to Real Estate NJ. The other two locations include a 950,000-square-foot facility at 343 Cranbury Half Acre Road in Cranbury and a 1 million-square-foot warehouse at 2651 Oldmans Creek Road in Logan Township.

Amazon recently launched Amazon Supply Chain Services, a platform that gives companies access to its freight, warehousing, fulfillment and delivery network. The platfom could reinforce demand for highly functional, well-located assets in logistics hubs such as Northern New Jersey.

Seagis’ industrial footprint in the Garden State currently exceeds 6 million square feet, Yardi Matrix also shows. Most of the company’s local portfolio includes Class B properties in the Cranford – Union and Lyndhurst submarkets.

New Jersey’s 2026 performance maintains momentum

New Jersey is keeping its position as a top industrial market, according to a recent Yardi Matrix industrial report. Despite experiencing a wave of post-pandemic industrial completions and a contracting pipeline, the state’s development activity picked up pace again, as 8.5 million square feet were underway as of August.

Meanwhile, investment activity remained elevated, with the sales volume totaling $2.1 billion in the first eight months of the year. New Jersey’s industrial assets sold for $182 per square foot on average, well above the $138 national figure. Pricing outperformed Dallas ($118 per square foot) and Kansas City ($97 per square foot), among other similar markets.

Recent deals highlight New Jersey’s industrial strength

Notable 2026 transactions include EQT Real Estate’s purchase of a 2 million-square-foot industrial collection in Southern New Jersey. An affiliate of New York Life Investment Management sold the portfolio in March.

EQT had made another purchase earlier that month. The company picked up a 4.4 million-square-foot collection with assets spanning 25 states, including New Jersey. Mapletree Investments sold the collection for $575 million in its fourth U.S. divestment at the time.

More recently, a major industrial financing deal closed in Central New Jersey. 2020 Acquisitions received $654 million from Madison Realty Capital, with proceeds refinancing five buildings part of Central 9 Logistics Park’s first phase, while also covering construction and leasing costs for two other facilities in Phase Two.