Seagis Property Group Acquires a 171,000 Square Foot, Vacant Building in Elizabeth, New Jersey

Seagis Property Group today announced the acquisition of 5-61 Bay Avenue, a vacant, 40’ clear, new construction warehouse/distribution facility located within Port Elizabeth. The building is strategically located across the street from Maher and APM Terminals and adjacent to Port Newark Container Terminal. The 171,000-square-foot property occupies 8.1 acres and offers convenient access to Newark Airport, Holland Tunnel, Lincoln Tunnel, and the New Jersey Turnpike. “We are pleased to expand our New Jersey portfolio with this Class A asset situated at the center of a global logistics shipping hub,” said Tyler Baker of Seagis Property Group. “We look forward to providing a unique opportunity to lease a newly built asset that sits in the heavyweight corridor, Foreign Trade Zone 49, and contains a long-term PILOT. We thank our brokerage partners for their support in completing this acquisition.” Brian Golden, Brian Fiumara, Larry Schiffenhaus, and Tom Monahan of CBRE facilitated the sale of this property.