NEW JERSEY—Seagis Property Group, based in Conshohocken, Pa., has purchased 535 Dowd Avenue in Elizabeth, a 158,735-sq.-ft. distribution facility. Binswanger brokered the sale on behalf of Elizabeth Beverage Company.
The transaction was handled by Andrew Grabis, vice president in Binswanger’s Morristown office, and Marc Policarpo, senior vice president in Binswanger’s Philadelphia, Pa. office.
Situated on 7.85 acres, the property includes concrete flooring, brick on block walls, 20-ft. ceiling heights, a wet sprinkler system in the warehouse and 6,080 sq. ft. of air-conditioned office space.
The property is located in an Urban Enterprise Zone, one mile to New Jersey ports and Exit 13A on the New Jersey Turnpike.
Seagis Property Group purchased the facility as an investment.