New Providence, N.J. (March 5, 2018) – NAI James E. Hanson announces it has brokered the lease for 36,052 square feet of industrial space with CIMC Commercial Tires at 140 Spring Street in New Providence, N.J. NAI James E. Hanson’s Barry J. Cohorsky, SIOR, exclusively represented the landlord, Davanne Realty Co. & 19-25 Columbia Corp.,
Established in 2017, CIMC Commercial Tires is an intermodal chassis replacement tire retreading and supply company servicing a wide range of clients across the logistics and shipping industries. CIMC Commercial Tire’s proprietary tread rubber design and compounding is designed to specifically address the rigorous demands of intermodal transportation clients. Their search for a suitable manufacturing space prioritized accessibility to local intermodal shipping corridors and adaptability to the heavy power needs of their manufacturing process.
With a location less than 20 miles from Port Newark Elizabeth, one of the busiest intermodal shipping centers in the United States, and ample heavy power, 140 Spring Street presented an ideal location for CIMC Commercial Tire to house their new business. The 66,000-square-foot building is designed with the needs of manufacturers in mind with 15’6” ceilings, two one-ton cranes as well as one loading dock. In addition to a strategic location nearby the port, the space also boasts supreme accessibility to several of the region’s most heavily-trafficked shipping corridors, Interstates 78 and 95, which is where CIMC looks to gain greater market share.
“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,” said Cohorsky. “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. This deal showcases the strong market demand for flexible and well-located spaces like 140 Spring Street and the continued advantage of working with a highly experienced and knowledgeable brokerage team to secure tenants at a fair market value.”