140 Spring St. in New Providence — Courtesy: NAI James E. Hanson
By Joshua Burd
A newly launched commercial tire business will occupy more than 36,000 square feet of industrial space in New Providence, following a recent deal by NAI James E. Hanson.
The real estate services firm said the tenant, CIMC Commercial Tires, will use the space at 140 Spring St. to manufacture and distribute its products to the logistics and shipping industries. The firm has leased just over half of the 66,000-square-foot building, which is owned by Davanne Realty Co. and 19-25 Columbia Corp., sitting less than 20 miles from Port Newark-Elizabeth.
NAI Hanson’s Barry J. Cohorsky represented the landlord, touting the building’s access to interstates 78 and 95 and a design that supports manufacturing.
“When marketing a space like 140 Spring Street, it is vitally important to recognize the best possible usage for the space and tailor the marketing plan towards securing a tenant in line with that use,” Cohorsky said in a prepared statement. “I recognized that the building’s unique accessibility to Port Newark Elizabeth and several major highways would be a perfect fit for a manufacturing-oriented tenant, so I looked to attract a tenant in that industry.”
Established in 2017, CIMC Commercial Tires is an intermodal chassis replacement tire retreading and supply company servicing the logistics and shipping industries, NAI Hanson said in a news release. The firm has a proprietary tread rubber design and compounding designed to specifically address the rigorous demands of intermodal transportation clients.
Cohorsky said 140 Spring St. was a match for the firm’s needs because of its ample heavy power, 15.5-foot ceilings, two one-ton cranes and one loading dock.
