Seagis Property Group has purchased a 350,000-square-foot industrial complex in North Brunswick, N.J.
The value of the transaction was $7.8 million.
Permacel Inc. sold the property, which is located at 621 Route 1.
The property, now to be known as Seagis Corporate Park @ Route 1, is the former manufacturing and distribution facility for Permacel, a subsidiary of Osaka, Japan-based Nitto Denko. It sits on 30 acres adjacent to the Technology Centre of New Jersey. The building includes warehouse/distribution, assembly/manufacturing and office space.
Seagis will demolish portions of the building’s interior, upgrade its façade, improve loading and circulation, replace and repair the roof, install new lighting, update the landscaping and complete other general improvements. The building will be ready for delivery in spring 2006.
Seagis Property Group LP owns and operates industrial buildings in locations along the Eastern Seaboard.
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