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NAI Hanson Completes Trio of Industrial Renewals
NAI James E. Hanson has brokered a trio of lease renewals at the Van Brunt Business Center in Englewood, NJ. Marathon Enterprises renewed its 5,000-square-foot lease at 9 Smith St.; GNS Trading Corp re-signed for 5,000 square feet at 21 Smith St.; and ForTec Medical recommitted to 5,000 square feet at 41 Smith St.
NAI Hanson’s Ken Lundberg, SIOR, Steve Pastor and Patrick Lennon represented landlord West Forest Avenue Industrial Inc., along with the tenants in the transactions at 9 and 41 Smith. Eastern Realty’s Young Lee represented GNS.
“A rapidly tightening industrial market and lack of inventory have made it increasingly difficult for tenants to find suitable industrial spaces in the area that boast the combination of location and flexibility found at the Van Brunt Business Center,” said Lennon. Accordingly, properties like Van Brunt “will continue to be well-positioned for high tenant retention over the next several quarters.”
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