Sharp Sells US Headquarters Building

According to NorthJersey.com, Sharp Electronics Corp. has sold its U.S. headquarters building in Mahwah to Sitex Group, a real estate investment firm, for $38 million. But the OEM plans to stay on the site by leasing back the space for 12 years.

The sale includes the 147,000ft² (13,657m²) Sharp headquarters building, a 350,000ft² (32,516m²) warehouse and 23 open acres, according to Brian Milberg, a principal with the Sitex Group, which invests mostly in industrial property.

The Mahwah headquarters which is Sharp’s U.S. sales and marketing subsidiary, was constructed in 1985, with 600 people working there.

Sitex Group were drawn to the land and the warehouse because the demand for warehouse spaces has heated up as more consumers shop on the Internet and have their purchases delivered to their homes.

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