NAI DiLeo-Bram & Co. announced on Tuesday it has closed the sale of a mixed-use property in Roselle.
The Piscataway-based commercial real estate brokerage said that Marc Shein, senior vice president, and Matthew DiLeo, associate, closed the sale of a 7,690-square-foot property at 111-117 West. Second Ave. The pair served as the exclusive brokers for the property and secured the buyer.
The building is entirely rentable with three retail tenants occupying the first floor, one on the second and some vacant spaces on the third. It is located within close access to the Garden State Parkway.
“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,” he added.
The available spaces at the property can also convert into apartments, DiLeo said.