A newly finished warehouse at 500 Belleville Turnpike in North Arlington is already full. Seagis Property Group has completed the 53,315-square-foot building on a site that once held an aging, underused industrial property, and a national credit tenant that preleased the space is now occupying it.
The address sits between North Kearny and Lyndhurst in the Meadowlands submarket, according to Real Estate NJ. The outlet reports the identity of the tenant and the terms of its lease were not disclosed. Seagis, a Conshohocken, Pennsylvania-based industrial developer, acquired the original property in 2022 before tearing it down and rebuilding from the ground up.
From Obsolete Site to Class A Building
Getting the property ready required more than a simple teardown. Per a statement from Seagis Property Group, the redevelopment included demolishing the existing building, constructing retaining walls, and performing substantial grading and site work before construction could begin.
Omer Mir Ahmed, the company's chief development officer, said the finished building is a Class A facility. Seagis's statement frames the project as part of a broader strategy, with the company saying it is committed to creating high-quality industrial facilities in strategic infill locations while expanding its portfolio to support the growing needs of its customers.
Conflicting Timelines on When Construction Began
Exactly when ground was broken on the project is murky. The same Real Estate NJ report on the completed building states that Seagis broke ground on the facility late last year, while a separate Real Estate NJ construction-start article describes the company breaking ground on the more-than-53,000-square-foot Kearny-area warehouse and anticipating completion the following summer. A December 2025 announcement from PR Newswire adds that Seagis expected construction to wrap by the summer of 2026, and detailed specs for the planned facility at the time: 36-foot clear ceiling heights, seven dock doors, two drive-in doors, 55 surface parking spaces, and roughly 6,000 square feet of outdoor storage.
A Tightening Meadowlands Market
The new building lands in a submarket that's seeing rents hold steady even as vacancy creeps up. The Meadowlands industrial vacancy rate climbed to 6.7% in the third quarter of 2026, up from 6.1% the prior quarter, according to a market report from NAI James E. Hanson. The same report puts the average asking industrial rent at $16.33 per square foot, with Class A space commanding $21.95 per square foot.
Leasing activity in the submarket has stayed brisk, with nearly 3.0 million square feet leased year-to-date through the third quarter — on par with the same stretch of 2025, per the report. The period's largest transactions included ECDC, Inc.'s renewal of 216,049 square feet at 1 Oxford Drive in Moonachie and a new lease from Moda Express for 148,551 square feet at 25 Enterprise Avenue North in Secaucus.
More Industrial Construction Nearby
Seagis isn't the only developer betting on North Arlington's industrial corridor. The Hampshire Cos. was developing a 41,115-square-foot building at 9 Porete Ave. as of October 7, with plans calling for 40-foot clear ceiling heights, nine dock-high doors, one drive-in door, a 135-foot truck court, and 30 parking spaces, according to Real Estate NJ's reporting on the project. Hampshire has worked this same stretch before, having demolished underutilized buildings at a separate 12 Porete Ave. site in 2022 and completing a 108,993-square-foot facility there the following year.
