The firm said Motion Express signed for 28,900 square feet at 475 Division St., owned by Tree Realty. NAI Hanson’s Barry Cohorsky and John Koch represented the landlord in the deal, while Robin Ritter-Ceriello of Cushman & Wakefield represented the tenant.
“While much of 2020 has been defined by uncertainty, the industrial market in northern New Jersey has remained stable, with elevated demand for limited assets throughout the area continuing to drive pricing higher,” Cohorsky said in a prepared statement. “We expect to continue to see tremendous demand for assets like 475 Division St. as they promise unmatched connectivity to the nation’s densest population centers as well as markets across the world.”
The 175,000-square-foot multitenant building is less than a mile from Newark Liberty International Airport and the Port Newark-Elizabeth Container Terminal, as well as the New Jersey Turnpike.