R.J. Brunelli Named Exclusive Broker For Four Central New Jersey Retail Sites
--Properties located in Monmouth, Middlesex, and Somerset counties;
Bridgewater site offers opportunity for approved hotel
Aug 29, 2016, 09:32 ET
OLD BRIDGE, N.J., Aug. 29, 2016 /PRNewswire/ -- R.J. Brunelli & Co., LLC today announced that it has been appointed exclusive broker for four new and existing retail sites in central New Jersey's Monmouth, Middlesex and Somerset counties.
In Monmouth County, the company is now handling leasing for Freehold Mall, an established community center on Route 9 North, near the intersection of Route 79. With a new Aldi Market and AutoZone under construction, the approximately 180,000-square-foot center is currently anchored by Burlington Coat Factory and Workout World. Other prominent tenants include Vitamin Shoppe, Payless Shoes and Rainbow Shops. Five spaces ranging from 780 to 7,988 square feet are currently available.
"Combining a solid tenant mix with excellent visibility and direct access from both the north and southbound lanes of Route 9, Freehold Mall offers tremendous opportunities for a variety of retail, restaurant and service uses," said William Lenaz, Principal and Executive Vice President at the Old Bridge-based retail real estate firm. "We're very pleased to be representing this well-established property, which is in the heart of Freehold Township's busy retail corridor."
The site serves a Monmouth County market with more than 93,000 residents with an average household income of $110,000 within a five-mile radius. The daytime population within that area exceeds 61,000, while the daily traffic count along Route 9 is nearly 53,000.
In Somerset County, R.J. Brunelli was appointed exclusive broker for a 6.75-acre site at Route 22 East and Morgan Lane in Bridgewater, where plans have been approved for a proposed 64,700-square-foot hotel and a 9,000-square-foot retail building to join an existing, high-volume Houlihan's Restaurant. "The hotel parcel, which was approved for four stories with 133 rooms, is being offered on a ground-lease or co-venture basis," Mr. Lenaz noted. "The planned strip center will offer spaces starting at 1,350 square feet and is approved for all retail and restaurant uses. This is a highly visible location with convenient access to an affluent Somerset County trade area that includes major office parks, an independent league baseball stadium and a variety of large-scale retail centers."
The Bridgewater site is accessible within a five-mile radius to over 152,000 residents with an average household income of $121,500, as well as approximately 111,000 daytime workers. More than 93,000 cars pass the property each day on Route 22.
In Middlesex County, the firm is now leasing a new 27,400-square-foot retail center at 4138 Route 1 North, just off Stouts Lane, in the heart of the fast growing South Brunswick retail and hotel corridor. As planned, the four-building site has been approved for all retail uses, fast food, a full-service restaurant (with liquor license available), and a daycare center with an outdoor play area.
"This is a high-visibility site with easy access to Route 1, and within minutes of 10 hotels in the South Brunswick-Plainsboro-Princeton market as well as South Brunswick centers anchored by Target and Home Depot," Mr. Lenaz said. "The property will serve an immediate market within a three-mile radius of approximately 37,000 residents with an average household income exceeding $106,500 and a daytime population of 30,300. Within five miles, those numbers jump to 112,400 residents with a $101,000 household income, plus 76,300 daytime workers. The daily traffic count along that section of Route 1 exceeds 57,500 cars."
Elsewhere in Middlesex County, R.J. Brunelli was appointed exclusive broker for a new 8,000-square-foot retail building at 410 Amboy Ave. in Woodbridge. "This attractive two-story building was originally developed for a day spa and salon that never moved in, with planned treatment rooms for a barber, hair salon, manicures/pedicures, massages and facials. All rooms are demised and ready for finishing for users interested in pursuing the original spa concept," said project manager John Lenaz, Senior Sales Associate at R.J. Brunelli. "The landlord will also entertain offers for other retail and office uses, with spaces ranging from 2,000 square feet and up. Offering a generous parking field, the site is minutes away from the Garden State Parkway, New Jersey Turnpike, and Routes 1, 9, 35, 184 and 440."
With a daily traffic county of 31,000 cars on Amboy Ave., the site is accessible to 133,000 residents with an average household income of $67,600 and a daytime population of 83,600 within a three-mile radius. Within five miles, there are 338,700 residents with an average household income of $76,000 and a daytime population of 168,500.
For leasing information on the Freehold, Bridgewater or South Brunswick sites, contact: William Lenaz, [email protected], 732-721-5800, ext. 15. For information on the Woodbridge building, contact John Lenaz, [email protected], 732-721-5800, ext. 26.
About R.J. Brunelli & Co.
R.J. Brunelli & Co. serves as exclusive broker for 37 existing retail properties and six centers under construction with a combined gross leasable area (GLA) exceeding 2.0 million square feet, along with two business locations for sale, and eight properties for sale. The properties are located throughout New Jersey. The firm also serves as exclusive or preferred tenant representative for more than 18 retail, restaurant and service chains. These include regional assignments for AAMCO and Athena Learning Centers, as well as representation in various New Jersey, New York and Pennsylvania counties for such major companies as Dollar Tree, Red Robin, Sally Beauty Supply, and Work Out World.
SOURCE R.J. Brunelli & Co., LLC