Sitex Group Acquires Zuckerberg’s NJ Industrial Park
Sitex Group has acquired Zuckerberg’s Industrial Park in Saddle Brook, New Jersey, in one of the largest transactions in the state this year.
The property, which had been owned by the Zuckerberg family for three generations, is a 640,000-square-foot, 40-acre campus consisting of 50 buildings and a 4-acre trailer parking lot. “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,” said Sitex Principal Blake Chroman.
Sitex plans to modernize the park while honoring the Zuckerberg family’s legacy. The acquisition is part of Sitex’s strategy to acquire, develop, and reposition industrial properties in key infill locations in New York and New Jersey.
Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money.
With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.