ROSELLE, NJ—NAI James E. Hanson has brokered the sale of the 5,132-square-foot commercial space at 220 Chestnut Street, Roselle, NJ.
Enn Kunnapas, director of multi-family services at NAI Hanson, arranged the sale to 220 Chestnut Associates, LLC on behalf of the building's former owner, Spencer Savings Bank.
Located along Roselle's busy Chestnut Street, the one-story building is easily accessible from Route 28, the Garden State Parkway and Route 287. The property also features two drive-up lanes, a finished basement and an additional .195-acre lot with 15 parking spaces at West 3rd Avenue. Given the space's versatility, the new owner will have multiple options for attracting prospective tenants.
“In marketing this space as an investment asset, we emphasized the many ways in which this very conveniently-located and beautifully-maintained property could be repurposed,” says Kunnapas. “As the economy grows, a number of sectors - such as retail, medical and office - could be excellent drivers for return on investment, and the space's flexibility made it an attractive opportunity for the buyer.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
