140 Spring St. in New Providence — Courtesy: NAI James E. Hanson
By Joshua Burd
A microbrewery has committed to nearly 8,000 square feet at a New Providence industrial building, under a newly completed transaction by NAI James E. Hanson.
The real estate services firm on Wednesday announced the deal at 140 Spring St., where Untied Brewing has signed a lease with Davanne Realty Co. & 19-25 Columbia Street Corp. Located in Unit C of the 66,000-square-foot building, the space will house a full production brewery and a tasting room.
NAI Hanson’s Barry Cohorsky represented ownership in the 7,791-square-foot lease, touting the site’s location less than a mile from the Murray Hill train station and Interstate 78 and Route 22.
“The explosive growth of microbreweries has placed additional demand on the flex/industrial pipeline across the state,” Cohorsky said. “These breweries are often in the market for well-located, modern and flexible spaces with needs similar to those of more traditional industrial users, which has allowed landlords to market these spaces to an even wider audience and attract a premium price in the market.
“We were happy to work with our client on this deal to help them attract an exciting, long-term tenant to their space and bring a unique gathering place to New Providence.”