MAHWAH, N.J. — Sitex Group has acquired Sharp Plaza, a mixed-use campus located in Mahwah, for $40 million. Situated on the New York state border at the intersection of Routes 17 and 287, the campus includes a three-story, 147,000-square-foot Class A office building, a 350,000-square-foot warehouse building and 23 acres of undeveloped land. The office building is currently leased to Sharp as its North American headquarters on a long-term basis. The warehouse, which is expandable by 200,000 square feet, currently has an 80,000-square-foot vacancy. The remainder of the warehouse is long-term leased to Sharp and Amazing Savings. Sitex Group plans to reposition the warehouse vacancy and market the vacant land for office or warehouse build-to-suit opportunities. McBride Real Estate represented Sitex Group in the acquisition.
Sharp Plaza is comprised of a 147,000-square-foot office building, a 350,000-square-foot warehouse facility and 23 acres of undeveloped land in Mahwah, N.J.
Sitex Group Acquires New Jersey Sharp Plaza for $40M
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