Listen to this articleThe basics:
- Sitex Group‘s two-year repositioning brings occupancy above 90%
- 40-acre Saddle Brook Zuckerberg’s Industrial Park features 40 buildings
- Major updates include roofing, paving, landscaping & interiors
- Tenants include UPS, Veolia, Bio-Reference Labs and Johnstone Supply
Since acquiring the 40-acre property, Sitex Group has been busy updating Zuckerberg’s Industrial Park in Saddle Brook to great success.
Following a two-year, multimillion-dollar repositioning, the 40-building industrial complex exceeds 90% occupancy, the firm exclusively shared with NJBIZ.
When it added the site to its portfolio in 2023, it marked the first time the 640,000-square-foot complex changed hands over its three generations – and more than a century – of family ownership. At the time, Sitex characterized the deal as one of the largest and most complex in the state that year.
Since then, Sitex has been busy bringing the property up to date for modern users, including renovating each building in the park along with making extensive improvements to roofing, paving and landscaping.
“When we acquired Zuckerberg’s Industrial Park, our goal was to restore one of Bergen County‘s largest and most historic industrial campuses to modern standards,” said Sitex Group Principal Blake Chroman. “Today, the park is nearly fully leased, providing high-quality space that supports a range of industrial and distribution tenants.”
A service-oriented base
In January, NAI James E. Hanson announced its appointment as exclusive listing agent for Zuckerberg’s Industrial Park. Buildings at the property range from 1,000 square fee to 40,000 square feet, offering support for small businesses and international distributors.
Current tenants include: UPS, Veolia, Bio-Reference Laboratories, Crane and Johnstone Supply, NAI Hanson said in its announcement.
Chroman noted to NJBIZ that Sitex retained approximately 75% of tenants at the industrial park when the firm initially took ownership. Presently the property houses 40-plus occupants.
“Our tenants are from a wide array of industries,” Chroman noted, highlighting HVAC equipment distributors, auto supply distributors, consumer products companies and others. “But a common theme among most of the tenants is that they are service providers — as opposed to simply warehousing or bulk distribution.”
Broadly speaking, he said, users are drawn to Zuckerberg’s Industrial Park’s “unique location.”
Located along North Midland Avenue, the Bergen County property provides nearly immediate access to the intersection of the Garden State Parkway and Interstate 80. “Those two arteries connect to every other major artery in the state/region,” Chroman said.
Additionally, tenants enjoy proximity to Port Newark-Elizabeth, Newark Liberty International Airport and New York City.
In its third quarter 2025 industrial report, NAI Hanson noted a vacancy rate of 7.3% in Central Bergen County. Over the last five quarters, the firm put the overall New Jersey vacancy rate in the 5.8% to 6.1% range. Meanwhile, the average asking rate for Central Bergen came in at $16.48 per square foot — the highest among markets included in the report. The Meadowlands followed, at $15.22 per square foot. Comparatively, the statewide average asking rental rate came in at $13.87 per square foot.
A ‘prime’ location
Since 2002, Sitex has completed more than $4.2 billion of transactions across 11 discretionary funds. NAI Hanson has also worked with the firm on multiple other lease transactions. At 100 Performance Drive in Mahwah, for example, the team brought the more than 217,000-square-foot industrial building to full occupancy over multiple transactions.
NAI James E. Hanson Senior Vice President Kenneth Lundberg, Vice President Patrick Lennon and Associate Vice President Lorenzo Lambiase oversee marketing and leasing for the property.
“Zuckerberg’s Industrial Park stands out as one of the best-located industrial parks in Bergen County,” Lundberg noted at the start of the year. “Its prime location, combined with a diverse mix of unit types and sizes, makes it highly attractive to a variety of tenants.”
Chroman offered additional details to NJBIZ regarding renovations at the property.
In addition to painting each building and re-paving asphalt areas of the park, each vacant space and building received interior updates. “Which generally includes updated office spaces, painted warehouse spaces and new lighting throughout,” he said, adding, “We’ve added or enhanced loading capabilities in several buildings, as well.”
Sitex Group is a fully integrated private equity real estate firm specializing in acquiring, developing and repositioning industrial properties in key infill markets. Its target areas include the New York-metro and New Jersey along with South Florida. Sitex boasts a portfolio with more than 3 million square feet of strategically located assets serving logistics, manufacturing, industrial technology and distribution users.
“Zuckerberg’s Industrial Park illustrates Sitex’s ability to execute swiftly on complex acquisitions and deliver transformative results,” noted Sitex Group Vice President Max Fuchsman. “Our investment strategy and deep local expertise continue to drive performance across our portfolio.”
