NAI James E. Hanson announces it has brokered a lease for 28,900 square feet of industrial space with NJ Rubber, LLC at 475 Division Street in Elizabeth, N.J. NAI James E. Hanson’s Barry J. Cohorsky, SIOR, LJ Koch and John Schilp represented the landlord, Tree Realty, LLC.
475 Division Street is a 175,000-square-foot industrial building, strategically located near Port Newark Elizabeth, one of the busiest intermodal shipping centers in the United States. Additionally, the location also provides convenient access to two of the state’s busiest highways, Interstates 78 and 95. NJ Rubber’s lease of the 28,000-square-foot Unit 3 at 475 Division Street features five loading docks, 10 trailer spaces and 18’ ceilings to provide an ideal location to house their tire recycling business.
“When looking for a tenant for a space like 475 Division Street, it is important to take into account the property specifications and location to recognize the best usage,” said Cohorsky. “The building’s unique accessibility to Port Newark/Elizabeth and several major highways is a perfect fit for NJ Rubber as they travel to and from the Ports on a daily basis. This deal speaks to our team’s ability to recognize the opportunities a flexible location has to offer and securing the ideal tenant on behalf of our client.”
NAI James E. Hanson has recently published its 1Q 2018 Northern and Central New Jersey Industrial report, which highlights market trends and key data.