NAI Hanson completes 53,152 s/f sale of new Meadowlands Industrial Building
Carlstadt, NJ — NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announces it has brokered the sale of a newly constructed 53,152 s/f industrial building in Carlstadt, to Loftex Logistics, LLC, a Chinese textile company. Loftex Logistics, LLC will use the property as its first fulfillment and distribution center in the United States. NAI Hanson’s Tom Vetter, SIOR and Jeff DeMagistris, SIOR represented the seller, Sitex Group.
The newly constructed industrial building located at One Palmer Terrace boasts 32’ clear ceiling heights, 52’ x 60’ column spacing, five loading docks with 30,000 lb. capacity levelers and one drive-in door. The warehouse also has energy efficient T-5 fluorescent lighting. There are 41 on-site parking spaces as well as a 130’ truck court with a 60’ concrete apron.
“Our client, Sitex Group, one of the most active buyers and developers of industrial real estate in Northern New Jersey, acted quickly and closed without contingencies on the acquisition of the property. The site was previously improved with an office building. Sitex had the vision to redevelop the site into a state-of-the-art warehouse/distribution center, creating one of the only class A warehouse facilities available in the Meadowlands submarket” said Vetter.
The space and its location were so desirable that Loftex Logistics, LLC went under contract on the property before construction even started. We will continue to see quick absorption of new, quality industrial assets within the Meadowlands sub-market due to very little land available for development, its close proximity to New York City and the emergence of e-commerce.”Century 21 New Beginnings Realty represented the buyer.