160 Essex Avenue East Update 09/26/22

Avenel Warehouse Acquired for $19.7M

A Class-B industrial warehouse, located at 160 Essex Avenue East in Avenel, New Jersey, has just been sold for $19.7 million. The structure was purchased by Sitex Group from the previous owner, Total Source Logistics, in a deal brokered by Bussel Realty Corp.

Originally constructed in 1969, the single-story building totals square feet. It features 18-foot ceiling heights, several loading docks, and a drive-in door.

The warehouse sits on a square foot (4.7 Acre) lot and offers 50 industrial parking spaces, which are primarily used for trailer storage. The property's location makes it ideal for shipping and receiving, as it sits within close proximity to the NJ Turnpike. The facility is also a relatively short drive away from both the Port Newark–Elizabeth Marine Terminal, and Newark Liberty International Airport.

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