Newark, N.J. (December 14, 2018) – NAI James E. Hanson, a leading New Jersey based full-service independent commercial real estate firm, announces it has brokered a lease for 46,130 square feet of industrial space at 16 Herbert Street in Newark, N.J. NAI James E. Hanson’s Barry Cohorsky, SIOR, and John Koch represented the tenant, Eternity Crystal Logistics, in the transaction.
16 Herbert Street is a 304,000-square-foot industrial building featuring close proximity to The Port of Newark. The building’s location makes it ideal for logistics companies seeking to tap into major international distribution channels. As an e-commerce company, Eternity Crystal Logistics recognized that 16 Herbert Street’s prime location would ensure increased efficiency in their operations and position them for continued growth.
“As the ecommerce 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,” said Cohorsky. “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.”
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About NAI James E. Hanson
Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.
NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with over 400 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Teterboro office at 201-488-5800 or visit www.naihanson.com.