Sitex Group Acquires Warehouse In Hackensack From Larry Schiffenhaus, Stephen D’Amato, Thomas Monahan

The property at 600 South River St. in Hackensack, NJ, 07601, is a warehouse with a 40,000-square-foot maintenance facility that was formerly occupied by Deluxe International Trucks. Sitex Group purchased this property, which also includes nearly five acres of land, allowing them to complete a 15-acre land assemblage. The location features abundant parking and Sitex Group plans to improve the former truck repair facility to make it available for lease.

Summary of transaction details:

• Property Type: Warehouse
• Transaction Amount: Not disclosed
• Market: Hackensack
• Seller's Rep: Larry Schiffenhaus (CBRE), Stephen D’Amato (CBRE), Thomas Monahan (CBRE)
• Buyer: Sitex Group
• SF: 40,000

The sale of the property was brokered by CBRE’s Tom Monahan, Larry Schiffenhaus, and Steve D’Amato, who have also been retained as leasing agents for the site. Sitex Group expressed their intention to cater to companies with large vehicle fleets due to the property's strategic location and ample parking space. The firm has been focusing on expanding its industrial portfolio to meet the evolving demands of logistics users in the current market landscape. Sitex Group's recent acquisitions in the region, including this property in Hackensack, align with their strategy of investing in properties that support the growing e-commerce industry.