R.J. Brunelli Announces New Leases, Land Deal for Retail Sites in NJ and PA
-- Brokerage completes deals for new Hackensack-Meridian, Planet Fitness, Dollar Tree, Popeyes, Wing Stop, Tilebar, and Bridge Life Thrift Store locations
OLD BRIDGE, N.J., July 15, 2021 /PRNewswire/ -- Acting on behalf of its landlord and tenant clients, R.J. Brunelli & Co., LLC today announced that it recently completed leases and a land deal that will bring new Hackensack-Meridian, Planet Fitness, Dollar Tree, Popeyes Louisiana Kitchen, Wing Stop, Tilebar, and Bridge Life Thrift Store locations to sites in central and northern New Jersey, and north-central Pennsylvania.
In the largest of the transactions, the Old Bridge-based retail real estate firm signed Hackensack Meridian Health to a lease for a 45,600-square-foot outpatient care facility at Monmouth Plaza Shopping Center, 137 Route 35 in Eatontown. Plans call for the new facility—which will include an urgent care center--to open in the second quarter of 2022.
Hackensack Meridian's location is being created through a combination of the 80,592-square-foot center's former Eastern Mountain Sports and DSW spaces, along with a portion of the former Toys 'R' Us store. DSW is relocating from the property to Consumer Square on Route 36 in West Long Branch.
R.J. Brunelli represented property owner Monmouth Plaza Enterprises, LLC on the transaction, with Chairman & Principal Richard Brunelli getting the listing and President & Principal Danielle Brunelli procuring the tenant. Hackensack Meridian was represented by Jeffrey Babikian of CBRE.
"This lease is emblematic of the healthcare industry's adaptive re-use of big-box retail buildings at well-located sites," said Ms. Brunelli. "We were pleased to work with the landlord and tenant to assemble this major space along this highly-trafficked retail corridor."
In its capacity as exclusive broker for the Toms River Shopping Center, the brokerage executed leases with Planet Fitness and Wing Stop at the 253,000-square-foot property located on Route 37, just off the Garden State Parkway. Both tenants are expected to open in the third quarter of this year.
Planet Fitness, which will now co-anchor the Ocean County center with Kohl's, is taking over a 17,867-square-foot inline space that was previously occupied by Modell's. Wing Stop will be situated in a 1,500-square-foot inline space that formerly housed Liberty Travel. Ms. Brunelli represented the property owner on both leases. Joe Dougherty of Metro Commercial represented Planet Fitness and Gary Krauss of Pierson Commercial Real Estate represented Wing Stop.
In its role as exclusive New Jersey leasing representative for Dollar Tree, R.J. Brunelli signed the chain for a 9,977-square-foot inline space at Union Square, located at the intersection of Route 35 and Oak Hill Road in Red Bank. Dollar Tree is projected to open in the third quarter of this year in a former Tuesday Morning space, joining a lineup at the Monmouth County center that includes Planet Fitness and Goldfish Swim. Ms. Brunelli represented Dollar Tree on the transaction, while the landlord was represented by Greg Medvin of Pierson Commercial.
Elsewhere in central New Jersey, the firm executed the lease for Bridge Life Thrift Store for an 8,400-square-foot endcap space in The Marketplace at Matawan on Route 34 and Disbrow Road in Old Bridge. This will be the first New Jersey location for the not-for-profit store, which also operates three locations under the Good Stuff Thrift Store banner in Bucks County, Pennsylvania. All proceeds will go local charitable organizations designated by Calvary Chapel Old Bridge. The Bridge Life store is expected to open in early September in the 58,500-square-foot center's former Dress Barn space, joining a mix that includes Dollar Tree, Buy Rite, Provident Bank and a soon-to-open Therafit Rehab. Ms. Brunelli represented the landlord on both the Bridge Life and Therafit leases.
In northern New Jersey, the firm brokered the sale of a 0.75-acre site with an 8,000-square-foot building at 443 Route 17 South in Paramus for Tilebar, as the company further expands its retail showroom reach beyond its Manhattan flagship store. The New York-based tile company --which currently operates nationwide distribution from New Jersey and Arizona hubs-- plans a complete interior and exterior renovation of the former Casual Male building.
"Tilebar's Paramus store will provide northern New Jersey with a convenient and readily available inventory of design-forward products for which the company is known," said R.J. Brunelli Senior Sales Associate John Lenaz, who represented the buyer and seller on the transaction. The company expects to open at the site in the second quarter of 2022.
In Pennsylvania, R.J. Brunelli Senior Sales Associate Pete Nicholson signed Popeyes for a ground lease for a freestanding 2,400-square-foot restaurant at 1713 E. 3rd Street in Williamsport. A March 2022 opening is anticipated for the newly constructed building, which will include a drive-thru.
Mr. Nicholson represented Popeyes franchisee PN Restaurants on the transaction and is currently seeking additional sites for the operator in Pennsylvania and New Jersey. He previously represented PN—which operates Popeyes locations from Virginia to Massachusetts--on the purchase of a site in Phillipsburg, NJ.
About R.J. Brunelli & Co.
R.J. Brunelli & Co. serves as exclusive broker for 31 retail properties with a combined gross leasable area (GLA) exceeding 2 million square feet, and five properties for sale. The properties are located throughout New Jersey. The firm also serves as exclusive or preferred tenant representative for 22 retail, restaurant and service chains. These include representation in various New Jersey, New York and Pennsylvania counties for such companies as Dollar Tree, Family Dollar, Raising Cane's Chicken Fingers, Jersey Strong, Urban Bricks Pizza, My CBD Organics, European Wax Center, Asian Food Markets, and New Jersey Spine and Wellness.
Press contacts: At R.J. Brunelli & Co., LLC, Danielle Brunelli, President, (732) 721-5800; at Jaffe Communications Bill Parness, [email protected] , (732) 673-6852, or Elisa Krantz, [email protected] (908) 789-0700.
SOURCE R.J. Brunelli & Co.
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