16 Herbert St. in Newark — Courtesy: NAI James E. Hanson
By Joshua Burd
An e-commerce company has leased more than 46,000 square feet at a Newark industrial building, brokers with NAI James E. Hanson announced this week.
The business, Eternity Crystal Logistics, will be among the newest tenants at 16 Herbert St. Its new home at the property, a 304,000-square-foot complex off Route 1&9, provides it with fast access to Port Newark-Elizabeth and the ability to tap into international distribution channels.
NAI Hanson’s Barry Cohorsky and John Koch represented the tenant.
“As the e-commerce industry continues to explode, logistics networks are forced to compete for only a handful of industrial spaces that provide easy access to The Port of Newark,” Cohorsky said. “Unprecedented demand has caused leasing rates for industrial spaces like 16 Herbert to skyrocket, making it difficult for companies to secure space in this favorable location.
“Leveraging our extensive experience in this market, we were able to broker a lease that reflected a fair market value on behalf of Eternity Crystal Logistics.”
