Seagis Property Group Acquires Vacant 35,000-SF Cross-Dock Warehouse in Edison, NJ

Seagis Property Group has acquired a vacant, approximately 35,000-square-foot cross-dock warehouse and distribution facility at 400 McGaw Drive in Edison, New Jersey, the firm announced June 15, 2026. The transaction adds another asset to Seagis Property Group's New Jersey portfolio, with the firm intending to reposition the property through a renovation program before placing it on the leasing market.

Property and Location Details

The property sits on 3.1 acres within Raritan Center, a major business park in Edison, and is located at Exit 10 directly off the New Jersey Turnpike. According to Seagis Property Group, the building's cross-dock configuration and above-standard dock door count are among its key functional attributes. The facility is classified as a warehouse and distribution property.

Renovation and Leasing Plans

Seagis Property Group said it plans to undertake an extensive renovation program to modernize the building. Upon completion of the repositioning work, the firm intends to market 400 McGaw Drive for lease. The acquisition is consistent with a value-add investment strategy.

"We are excited to expand our growing New Jersey portfolio with another well-located asset. We look forward to completing our repositioning plan to modernize the property and align it with current market demands. We appreciate the support of our brokerage partners in getting this transaction done," said Tyler Baker of Seagis Property Group.

Transaction Details

Scott Belfer of CBRE facilitated the sale of the property. Financial terms of the transaction were not disclosed. NexPoint Securities is identified as a participant in the transaction. The seller was not identified in the announcement.

About Seagis Property Group

Seagis Property Group is a real estate firm focused on warehouse and distribution properties. The acquisition of 400 McGaw Drive represents a continued expansion of the company's holdings in New Jersey, according to the firm's announcement.

Sources: Seagis Property Group – Official Announcement, June 15, 2026