Sagard Real Estate acquires two industrial properties in East Coast markets

Sagard Real Estate, formerly known as EverWest Real Estate Investors, announced the successful acquisition of two significant industrial properties located in northern New Jersey and Hanover, Md.

Situated on 4.3 acres, the first property, located at 80 Essex Avenue East in Avenel, N.J., is an 80,468-square-foot industrial building positioned 11 miles southwest of Port Newark and 24 miles from New York City. Acquired for $24.1 million, or $300 per square foot, Sagard plans to manage the rent roll and, upon tenant rollover, complete capital improvements before re-leasing at market rates. With property lines located within the Exit 12 submarket, this area is known for its connectivity and strong appeal to national and regional distributors. Constructed in 1975 and renovated in 2022, the property is fully leased until October 2025.

The second property, located at 7314 Race Road in Hanover, Md., is a newly constructed 130,389-square-foot industrial building on 12.4 acres. S