111-117 West Second Ave. in Roselle — Courtesy: NAI DiLeo-Bram & Co.
By Joshua Burd
An investor has acquired a nearly 8,000-square-foot retail and office property in Roselle, in a newly announced transaction by NAI DiLeo-Bram & Co.
The brokerage firm represented the unnamed seller of the building, located at 111-117 West Second Ave., while also securing the buyer. With a total of 7,690 square feet, the property is home to three retail tenants on the first floor, one office tenant on the second floor and vacant office space on the third floor.
NAI DiLeo-Bram Senior Vice President Marc Shein and Matthew DiLeo, an associate with the Piscataway-based firm, completed the assignment. Terms were not disclosed.
“We are pleased to have served as the exclusive broker for this unique property,” Shein said. “The retail income, and the upside potential for additional office tenants, made this property attractive to investors.
“We reached out to a wide list of buyers and brokers to expose the property fully. We then diligently contacted everyone on our list to secure the right buyer for this property at the best possible terms for our client.”
Located minutes from the Garden State Parkway and NJ Transit rail service, 111-117 West Second Ave. provides access to New York City and proximity to restaurants, retailer and parks, the brokerage said. DiLeo also cited the potential to convert the property’s available office space into apartments, which broadened its appeal to the buyer.
