Sitex Group buys 343,000-sf South Brunswick warehouse leased to parcel tenant
Connect CRE reports the seller and sale price were not disclosed for the roughly 40-acre site about two miles from New Jersey Turnpike Exit 8A.
At a glance
Sitex Group has acquired a 343,000-square-foot warehouse at 100 Middlesex Center Blvd. in South Brunswick, N.J., Connect CRE reported.
The facility is leased to a global parcel logistics company that has occupied the site since 2016, according to Connect CRE.
The report does not disclose a lease term for the tenant.
Sitex Group has acquired a 343,000-square-foot warehouse at 100 Middlesex Center Blvd. in South Brunswick, N.J., Connect CRE reported. The seller and sale price were not disclosed. The roughly 40-acre property sits about two miles from New Jersey Turnpike Exit 8A.
The facility is leased to a global parcel logistics company that has occupied the site since 2016, according to Connect CRE. Its improvements are built around a fleet operation: more than eight acres of paved and secured parking, an on-site fuel pump, a truck maintenance garage and truck wash, and EV charging for trucks and cars.
Brian Milberg of Sitex Group said in the report that the asset is highly functional in a location where large-scale industrial properties with that combination of infrastructure and connectivity are difficult to replicate.
Cushman & Wakefield's National Industrial Advisory Group — Gary Gabriel, Kyle Schmidt, Ryan Larkin and Seth Zuidema — arranged the sale, Connect CRE reported.
The report does not disclose a lease term for the tenant. The paved, secured parking overlaps with the industrial outdoor storage feature set that drew a $167 million Staten Island trade in August, per our earlier coverage.
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