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  • Writer's pictureMAREJ

Sitex Group acquires Zuckerberg’s Industrial Park in Saddle Brook, NJ

SADDLE BROOK, NJ — In one of the largest and most complex transactions completed in the state this year, Sitex Group (Sitex) has acquired Zuckerberg’s Industrial Park in Saddle Brook. The property had been closely held by the Zuckerberg family for three generations. The sale marks the first time the property has changed hands.

“We are thrilled to acquire the park,” said Sitex principal Blake Chroman. “Buying an industrial park of this size in prime infill New Jersey – particularly in Bergen County – is incredibly rare. Over the past decade, we built a relationship with the sellers and always hoped that we would own it someday. We are grateful that the Zuckerberg family selected us to be the new owners.”

Added Sitex vice president Jackson Kaplan, “We have the right team in place which enabled us to navigate the complexities of this transaction and swiftly close.”

Zuckerberg’s Industrial Park, located at 300 N. Midland Ave., is a 640,000 s/f, 40-acre campus comprised of 50 buildings and a 4-acre trailer parking lot. Tenants include large, notable companies such as UPS, SERVEPRO, and Johnstone Supply along with many local companies. The park offers high visibility and convenient access to I-80 and the Garden State Parkway as well as the Ports of Newark/Elizabeth, Newark International Airport, and New York City. Location, coupled with robust demand for small warehouse space in Northern New Jersey, has kept occupancy at 90 plus percent for years.

Sitex intends to honor the Zuckerberg family legacy as new owners while modernizing the park for the next generation of ownership. Planned improvements include paving, lighting, new signage, and updated building interiors.

“This was a very unique acquisition opportunity and is another example of our longtime strategy of buying and repositioning industrial properties in key infill locations throughout New York and New Jersey,” said Chroman.


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