New York & Tri-State + New Jersey + Industrial | April 26, 2021

Sitex Acquires Two Industrial Properties Near NJ Turnpike

Sitex Group recently acquired two industrial facilities in New Jersey. They include a vacant, low coverage site at 440 Florida Grove Rd. in Perth Amboy and a 23,000-square-foot warehouse at 629 Henry St. in Elizabeth. Both properties were acquired from private investors for undisclosed sums. 

Given the limited supply of low-coverage land sites with large surface parking areas near the New Jersey Turnpike Corridor, Sitex expects strong interest from companies with large fleet vehicle and truck parking requirements for the Perth Amboy property.

629 Henry is located near the Turnpike’s Exit 13A and only a few miles from the Port of Newark/Elizabeth and Newark International Airport. It’s leased to a logistics company that relies on the property’s immediate access to the port.

“While other investment groups have taken a wait-and-see approach during the pandemic, we have been incredibly active on the acquisition front,” said Sitex principal Blake Chroman.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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