Seagis Property Group announced today that it has acquired a 7,500 square foot industrial building with an adjoining 12,000 square foot parking lot. The property is located at 1318 Randall Avenue at the corner of Bryant Avenue in the Hunts Point neighborhood of the Bronx. Seagis purchased the property 50% occupied and will be marketing the available space for lease. This is Seagis' first acquisition in the Bronx and increases the Company's portfolio in the Boroughs of New York City to 56 buildings totaling 1.2 million square feet.

"We purchased 1318 Randall Avenue because of its strategic niche within the Hunts Point industrial submarket which sees the lowest vacancy and deepest pool of potential tenants. We are excited to establish a foothold in the Bronx and add this property to our growing Outer Boroughs portfolio," said Mac Lee, Director with Seagis Property Group based out of the company's Brooklyn office.

Seagis Property Group LP owns and operates an 11.5 million square feet industrial portfolio in New Jersey, New York City, and Miami/Fort Lauderdale. Seagis is headquartered in suburban Philadelphia, with offices at One Tower Bridge, 100 Front Street, Suite 350, Conshohocken, PA 19428.