Seagis expands New Jersey portfolio

Buys building on rail line

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Seagis Property Group acquired a 200,000-square-foot industrial building in East Rutherford, N.J., for a purchase price of $12.8 million. Situated on 13 acres at 13 Manor Road, the masonry building features a clear ceiling height of 22 feet, 16 tailgate dock doors, and active rail service. At the time of sale, the property was fully leased to Foamex L.P. The purchase marks Seagis' eight in New Jersey, where the company owns "approximately 1.75 million square feet of existing buildings, in addition to 225,000 square feet currently under construction at Exit 8A." West Conshohocken, Pa.-based Seagis Property Group LP owns and operates industrial buildings in logistically driven locations along the Eastern Seaboard. ...