NAI Hanson Arranges Long-Term Lease for Industrial Space in Elizabeth, N.J.
NAI James E. Hanson, a leading New Jersey-based full-service independent commercial real estate firm, announced it has brokered the lease for 25,134 square feet of industrial space located at 475 Division Street in Elizabeth, N.J. to Metrofuser, a leading global innovator, re-manufacturer and marketer of printers, parts and training. NAI Hanson’s Barry Cohorsky, SIOR and James Kenah represented the owner, Tree Realty, LLC in the transaction. Herb Zimmerman and Jeff Goldfinger of Bussel Realty represented Metrofuser.
475 Division Street is located in an Urban Enterprise Zone less than two miles from Newark Liberty International Airport and the seaport with accessibility to New York City bridges and tunnels. It offers easy access to Routes 1 and 9, The New Jersey Turnpike and Route 78. The property features five loading docks, one drive-in, and 25 parking spaces.
“Industrial / flex space near the ports continues to be competitive especially among small to mid-size users. Demand and diminishing inventory has created a strong market for industrial owners of smaller to mid-size space that can accommodate a number of industries and tenant types,” said Kenah. “475 Division Street provides Metrofuser the ample space that it needs to expand its business while moving to a more central and easily accessible location and fits the tenant and leasing strategy of the building owner.”
Metrofuser will relocate from its previous headquarters in Roselle, N.J. 475 Division Street will allow Metrofuser to expand its production, distribution and training services by 25%. The additional space will also enable the company to feature its portfolio of IT training services along with the latest specialty technologies.
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