Sitex Group Acquires 343 KSF NJ Logistics Facility
UPS is a long-term tenant at the property.
Sitex Group has acquired a 343,000-square-foot warehouse facility at 100 Middlesex Center Blvd. in South Brunswick, N.J. An acquisition price was not disclosed. Link Logistics was the Class B property’s former owner, according to Yardi Matrix.
The facility is fully leased to UPS, which has occupied the building since 2016 as its Cranbury Hub.
The approximately 40-acre property features more than 8 acres of paved and secured parking, an on-site fuel pump, a truck maintenance garage and truck wash, and EV charging for both trucks and automobiles. The building features 32-foot clear heights, an ESFR sprinkler system, loading on all four sides, and excess electrical capacity.
The warehouse is roughly two miles from New Jersey Turnpike Exit 8A and near Route 130 and Interstate 195, providing connectivity to New York City and the Port of New York and New Jersey.
READ ALSO: New Jersey Industrial Development Picks Up the Pace
A Cushman & Wakefield National Industrial Advisory Group team of Executive Vice Chair Gary Gabriel, Vice Chair Kyle Schmidt, Managing Director Ryan Larkin and Director Seth Zuidema arranged the sale.
Steady demand buoys industrial market
New Jersey’s industrial space market is showing persistent demand, as shown by three straight quarters of occupancy gains, according to a third-quarter report from Cushman & Wakefield. The Port of New York and New Jersey held a steady pace in August, as volume eased from last year’s tariff-driven surge.
Industrial space in Central New Jersey has an overall vacancy of 8.3 percent, with year-to-date net absorption of 5.2 million square feet, on an inventory of 386.3 million square feet, Cushman & Wakefield reported.
Less than a month ago, Corebridge Real Estate Investors and Kadima Industrial Partners sold a 12-property, 840,000-square-foot infill industrial portfolio in New Jersey’s Burlington, Camden, Gloucester and Passaic counties to L&B Realty Advisors. JLL advised the sellers on the sale of the portfolio, which is 97 percent leased.
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