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Sitex continues buying spree with $36M industrial buy in Queens
Firm has closed on $200M in acquisitions over the last few months
After the Sitex Group sold a Red Hook logistics site for a whopping $303 million, the industrial real estate firm has gone on a buying spree.
Most recently in New York, firm bought a trio of industrial buildings in Ridgewood for $36 million, according to a public document filed Friday with the city’s finance department. The deal closed Jan. 31.
The Englewood, New Jersey-based Sitex did not return a request for comment.
An entity tied to the Eisenberg Group of Companies, which is based in Coral Springs, Florida, was the seller. Citing a confidentiality agreement, Eisenberg’s Jay Eisenberg declined to comment.
The properties are located next to each other along Otto Road. One of them, 66-35 Otto Road, appears to be home to an Arenson Furniture Outlet.
As of the beginning of the month, Sitex had closed $200 million worth of acquisitions over 90 days, according to GlobeSt.com and NJBIZ. One recent deal was for a 100,000-square-foot Meadowlands warehouse in Carlstadt, New Jersey.
In December, Sitex sold six parcels along the Brooklyn waterfront to UPS for $303 million, after purchasing them in 2017 for $110 million. The Red Hook site holds up to 1.2 million buildable square feet.
Meanwhile, Queens saw another industrial play this week, when Blackstone Group nabbed a two-story building near LaGuardia Airport for about $56 million. The property is home to a FedEx Ground location.