Press Release brought to you by NAI James E. Hanson

NAI Hanson Finds Buyer for 5,132-SF Space in Roselle, N.J.


New Owner of 220 Chestnut Street to Repurpose Former Spencer Savings Bank Building


Roselle, N.J. (Mar. 25, 2015) – NAI James E. Hanson, a leading New Jersey-based commercial real estate firm, today announced that it has brokered the sale of the 5,132-square-foot commercial space at 220 Chestnut Street, Roselle N.J.


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.


Kunnapas said: “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. 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.”


About NAI James E. Hanson

Since 1955, NAI James E. Hanson has been a leading independent full-service brokerage commercial real estate and property management firm serving a diverse client list. NAI Hanson offers its clients strategic solutions and provides comprehensive value-added services such as office, industrial and retail brokerage, investment sales, land sales, management, government services and financing expertise.


NAI Hanson is also one of the original members of NAI Global, an international commercial real estate network with 375 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Hackensack office at 201-488-5800 or visit


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03/25/2015 - 21:00


NAI James E. Hanson

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