475 Division St. in Elizabeth — Courtesy: The Blau & Berg Co.
By Joshua Burd
The owner of a 175,000-square-foot industrial complex in Elizabeth has secured a new tenant with a recently completed, 21,000-square-foot lease at the property.
According to The Blau & Berg Co., which brokered the transaction, the space at 475 Division St. is earmarked for distribution and includes a trailer lot spanning roughly two-thirds of an acre. The undisclosed tenant is now set to benefit from the site’s proximity to Interstate 78, Roue 1&9 and the New Jersey Turnpike, as well as Newark Liberty International Airport and Port Newark-Elizabeth.
Blau & Berg’s Jason Crimmins, Alessandro (Alex) Conte and Peter Murano completed the deal, which Crimmins described as a “seamless transaction.”
“While the property is in an exceptional location convenient to most of the major, local highways and both the ports of Elizabeth and Newark, this lease execution is indeed a testament to the unified goal and continuous communication between both the landlord and tenant,” said Crimmins, Blau & Berg’s president. “The unit included six docks, one drive-in with 20-foot clearance off Division Street in the industrial section of Elizabeth. It is not often a unit of this caliber comes available and remains on the market for very long.”
