RANDOLPH, N.J., April 9, 2013 /PRNewswire/ -- In a transaction brokered by R.J. Brunelli & Co., Inc., Gary's Wine & Marketplace has signed a lease for approximately 11,100 square feet at The Shoppes at Randolph, an 80,560-square-foot specialty shopping center currently under construction on Route 10 in this Morris County municipality. The center, a development of Grecco Realty, LLC of Randolph, recently received final site plan approval.
"We are seeing a great deal of interest in The Shoppes at Randolph," said Ron DeLuca, senior vice president of R.J. Brunelli, which serves as exclusive broker for the property. "In addition to Gary's, which is a highly respected retailer with three existing locations in northern New Jersey, we also have leases out with Bonefish Grill for 5,000 square feet, the highly popular Chipotle Mexican Grill for a 2,000- square-foot pad location, and an upscale specialty food market for approximately 12,800 square feet. Negotiations are also in progress with several other national, regional and local foodservice operators and specialty retailers.
"We are focused on tenanting the remaining available space with upscale retailers reflective of the market, with a focus on fashion and other specialty stores," added DeLuca.
Situated on 11.5 acres on the westbound side of Route 10, The Shoppes at Randolph will draw from an overall market of more than 288,000 residents within an eight-mile radius, with an average household income of just under $109,000. Within a five-mile radius, there are more than 136,000 residents with an average household income of nearly $107,000. The center will additionally draw from a daytime population of more than 88,500 workers within a 10-minute drive.
"The site offers more than 1,000 square feet of highway frontage, providing substantial visual impact for the 49,000 vehicles passing by each day," noted DeLuca. Parking will be provided for 415 cars, or five spaces per 1,000 square feet.
"Site work is now complete with grading, curbing, perimeter landscaping and lighting," added DeLuca. "Construction of the buildings is underway, with completion slated for later this year."
The Shoppes at Randolph is one of four recent New Jersey ground-up retail centers of more than 80,000 square feet that the Old Bridge-based R.J. Brunelli has been involved with as exclusive broker from the time of project conception. The others are Summerhill Square in East Brunswick, Marlboro Commons in Marlboro, and Woodhaven Plaza in Old Bridge.
For leasing information on The Shoppes at Randolph, contact Ron DeLuca, R.J. Brunelli & Co., (732) 721-5800, [email protected]
About R.J. Brunelli & Co.
R.J. Brunelli & Co. serves as exclusive leasing representative for 17 existing retail properties, three centers under construction and two in the approvals stage with a combined gross leasable area (GLA) of approximately 1.5 million square feet, along with five properties for sale or lease with approximately 40,000 square feet of GLA. The properties are located throughout New Jersey. The firm also serves as exclusive or preferred real estate representative in various New Jersey, New York and Pennsylvania counties for more than 20 retail, restaurant and service chains, including such major companies as Red Robin, Dollar Tree, Ulta, Bonefish Grill and Work Out World.
SOURCE R.J. Brunelli & Co., Inc.