NEW JERSEY—Seagis Property Group LP has acquired two industrial buildings located at 165 and 205 Chubb Ave. in Lyndhurst, N.J. The two properties were acquired from The Hampshire Companies and, taken together, contain 268,576 sq. ft. of space.
The Hampshire Companies represented itself in the transaction, while Thomas Monahan of CBRE represented the buyer.
Situated on more than 14 acres, the warehouse facilities offer close proximity Newark Liberty International Airport, and provide easy access to the New Jersey Shipping Ports in Elizabeth and Jersey City. The properties also offer direct access to major area highways including, The Garden State Parkway, The New Jersey Turnpike, Routes 3, 4 and the Lincoln Tunnel and George Washington Bridge making it an ideally situated distribution hub.
“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.”