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REA
January 24, 2018  

Bundle of Warehouses on Block in NJ

Sitex Group is shopping 11 Northern New Jersey warehouses suitable for “last-mile” distribution facilities, with potential to raise below-market rents.The 909,000-square-foot portfolio encompasses 10 properties that are 93.7% occupied, plus a new 271,000-sf building that isn’t yet leased. Bids are expected to hit $195/sf, or $177 million, setting the stage for one of that market’s biggest-ever industrial trades.CBRE is...


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