SPRINGFIELD, NJ–Ring Container Technologies has leased 64,338 square feet in a multi-tenant warehouse at 50-52 Fadem Road in Springfield, with the transaction handled by NAI James E. Hanson. Ring, a manufacturer of containers for the food industry, is relocating from Hillside and has signed a long-term lease at the Springfield property.
NAI Hanson vice-president Barry J. Cohorsky represented the tenant, and Cassidy Turley senior vice-president and principal Douglas J. Bansbach represented the landlord, Bristol Group.
"The deal served a dual purpose as the firm was able to retain all employees and remain near a major client in this expansion,” Cohorsky says.
The warehouse was built in 1967 and renovated in 1980. A two-story, multiple-class B facility offering a total of 206,901 square feet, it has 20-foot-clear ceiling height, five tailboards, one drive-in and 190 surface parking spaces. According to the listing, the asking rental rate in the building is $4.75 to $5.25 per square foot.
The property is located in an industrial park setting that is part of the Route 78/22 East industrial submarket, offering quick access to a variety of major roadways. It is about 12 miles from Liberty Newark Airport.
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