NEW JERSEY—Seagis Property Group LP has acquired two industrial buildings located at 165 and 205 Chubb Ave. in Lyndhurst, N.J. The seller, Hampshire Companies, represented itself in the transaction, while Thomas Monahan of CBRE represented the buyer.
Totaling 268,576 sq. ft. of space taken together, the properties are situated on more than 14 acres. Located in the Meadowlands submarket, the warehouse facilities are in close proximity to Newark Liberty International Airport with easy access to Elizabeth and Jersey City.
“The buyer’s desire to acquire these buildings came at the perfect time, making this transaction ideal for us,” said Patricia Krasowski, an investment manager for The Hampshire Companies. “The building’s superior location and 90 percent occupancy rate made these properties an attractive asset to the buyer.”