475 Division St. in Elizabeth — Courtesy: NAI James E. Hanson
By Joshua Burd
A tire recycler has leased nearly 30,000 square feet of industrial space in Elizabeth, under a newly announced transaction by NAI James E. Hanson.
The company, NJ Rubber LLC, committed to 28,900 square feet at 475 Division St., a 175,000-square-foot building near Port Newark-Elizabeth, NAI Hanson said in a news release. Its new home provides it with easy access to Interstate 78 and the New Jersey Turnpike.
NAI Hanson’s Barry J. Cohorsky, LJ Koch and John Schilp represented the landlord, Tree Realty LLC.
“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,” Cohorsky said. “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.”
NJ Rubber’s space has five loading docks, 10 trailer spaces and 18-foot ceilings.
