NAI Hanson Completes Deal With Chinese Company For Purchase of Newly Constructed Meadowlands Industrial Building

Feb 25, 2016

Carlstadt, N.J. (February, 2016) – NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announces it has brokered the sale of a newly constructed 53,152-square-foot industrial building in Carlstadt, N.J., to Loftex Logistics, LLC, a Chinese textile company. Loftex Logistics, LLC will use the property as its first fulfillment and distribution center in the United States. NAI Hanson’s Tom Vetter, SIOR and Jeff DeMagistris, SIOR represented the seller, Sitex Group.

The newly constructed industrial building located at One Palmer Terrace was built with today’s modern warehouse user in mind, boasting 32’ clear ceiling heights, 52’ x 60’ column spacing, five loading docks with 30,000 lb. capacity levelers and one drive-in door. The warehouse also has state-of-the-art, energy efficient T-5 fluorescent lighting. There are 41 on-site parking spaces as well as a 130’ truck court with a 60’ concrete apron.

“Our client, Sitex Group, one of the most active buyers and developers of industrial real estate in Northern New Jersey, acted quickly and closed without contingencies on the acquisition of the property. The site was previously improved with an office building. Sitex had the vision to redevelop the site into a state-of-the-art warehouse / distribution center, creating one of the only Class A warehouse facilities available in the Meadowlands submarket” sad Vetter. The space and its location were so desirable that Loftex Logistics, LLC went under contract on the property before construction even started. We will continue to see quick absorption of new, quality industrial assets within the Meadowlands sub-market due to very little land available for development, its close proximity to New York City and the emergence of e-commerce.”

One Palmer Terrace offers excellent access to Routes 3, 17, 46 and 80 as well as The New Jersey Turnpike. The property is within thirty minutes of Newark International Airport, and less than 11 miles from the Lincoln Tunnel, the George Washington Bridge and the Holland Tunnel. Port Newark-Elizabeth is just 12.7-miles away.

Century 21 New Beginnings Realty represented the buyer.

To stay connected with NAI James E Hanson and for updates on the latest transactions and news, please follow NAI Hanson on Facebook (, Twitter (@NAI_Hanson), and LinkedIn (

About NAI James E. Hanson

Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.

NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with 400 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Hackensack office at 201-488-5800 or visit

Recent Post