Since the beginning of 2023, Sitex Group, a private equity real estate firm specializing in acquiring, developing and repositioning industrial assets has acquired over $250 million worth of transactions in New Jersey and New York. Principal Blake Chroman commented that despite market uncertainty and a general slowdown across the board they have been able to grow their portfolio with high-quality properties located in Tier 1 locations.
The acquisitions include an off-market three building 10 acre industrial campus at 980 New Durham Rd., Edison NJ as well as a five acre site featuring a 20,000 square foot vehicle maintenance building at 290 Veterans Blvd., Rutherford NJ. The firm plans on modernizing these assets for use by companies with large vehicle fleets. In addition to this year’s acquisitions Sitex also made several purchases throughout 2022 including properties located in North Bergen, North Brunswick Teterboro Avenel & Mahwah .
