NAI James E. Hanson negotiated a sublease for 1,800 square feet of office space at 165 Chestnut St. in Allendale, according to a Friday announcement.
Hanson’s Jonathan Kristofich represented both the sublessor and the subtenant, InSite Engineering, in the transaction.
Positioned on the southeastern edge of Allendale, the asset 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,” Kristofich said. “Office spaces, such as that found at 165 Chestnut St., typically see a great deal of attention on the open market.”
