Allendale, N.J. (October 6, 2022) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, announces it has negotiated a sublease for 1,800-square feet of office space at 165 Chestnut Street in Allendale, N.J.
NAI James E. Hanson’s Jonathan Kristofich represented both the sublessor and the subtenant, InSite Engineering, in the transaction.
Positioned on the southeastern edge of Allendale, 165 Chestnut Street is a 25,000-square-foot office/flex building located less than a mile from downtown Allendale with proximity to Routes 17 and 208. Additionally, the property offers access to over 180,000 residents within a five-mile radius.
Looking to sublease underutilized space within the building, the sublessor tasked NAI James E. Hanson with securing a high-quality tenant. InSite Engineering is a full-service civil engineering and consulting firm that took interest in the property due to its access to the local highways and clients.
“While there is concern about the office market at large, we were able to attract a high-quality subtenant to the building due to its premier location and turnkey condition,” said Kristofich. “Office spaces, such as that found at 165 Chestnut Street, typically see a great deal of attention on the open market.”
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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 over 300 offices spanning the globe. For more information on NAI James E. Hanson, contact William C. Hanson, SIOR, at the company’s Teterboro office at 201-488-5800 or visit www.naihanson.com