R.J. BRUNELLI & CO. ANNOUNCES LEASES FOR DOLLAR TREE, VERIZON TCC, MAX CHALLENGE, AND OTHERS; HANDLES CENTER ACQUISITION IN FLA.
R.J. Brunelli & Co., LLC today announced the recent completion of a series of leases that will introduce national retailers, restaurants, and personal service providers to sites across New Jersey, Florida and Pennsylvania. The firm also helped facilitate the sale of a Florida shopping center.
In the largest of the transactions, the Old Bridge-based retail estate firm represented the buyers in the $17.25 million acquisition of Cortez Commons, a 72,160-square-foot shopping center in Brooksville, Fla. To facilitate the transaction, Investment Sales Specialist Mario Brunelli helped assemble a group of 25 investors to buy the metro Tampa property, with the investors receiving a cash-on-cash return of 8.15%. Located at 12966 Cortez Blvd., Cortez Commons was built in 2015. Dick’s Sporting Goods anchors a mix that also includes such national chains as Five Below, Bob Evans, Mattress Firm, and The Vitamin Shoppe. The site is immediately adjoined by a freestanding Hobby Lobby store, as well as Bonefish Grille and Chili restaurants. Holiday Fenoglio Fowler, L.P. represented the sellers.
Back in New Jersey, in its capacity as Dollar Tree’s exclusive real estate representative statewide, R.J. Brunelli brokered five leases that will bring the nation’s largest single-price-point retailer to sites throughout the state. In Union County, a lease was signed for an 12,230-square-foot inline space at Plainfield Plaza, a 50,000-square-foot center anchored by Supremo Food Market. The center is located at 249 East Front Street in downtown Plainfield. R.J. Brunelli President/Principal Danielle Brunelli brokered the deal for the store, which is expected to open in August.
Ms. Brunelli additionally brokered deals that brought Dollar Tree to a 10,200 square-foot freestanding space on Route 37 in Toms River that opened in April; a 10,000-square-foot end-cap unit at the new Bergen Point Retail Center in Bayonne; a 9,100-square-foot newly constructed building in Bellmawr located at 42 North Blackhorse Pike; and to a 9,300- square-foot inline space at Plaza 70, located at 85 Route 70 in Marlton. The Marlton store is expected to open in July, followed by Bayonne in December and Bellmawr in the first quarter of 2018.
Meanwhile, franchises of The Max Challenge, the fast-growing New Jersey-based chain of fitness centers, signed leases for five more locations in New Jersey and two in Florida through deals brokered by R.J. Brunelli, which serves as the franchisor’s exclusive national leasing representative. In northern New Jersey, franchisees signed leases for a 2,775-square-foot inline space at 35 Main St. in Madison; and a 2,300-square-foot space at 700 Harmon Plaza in Secaucus. In the southern part of the state, leases were signed for a 2,800-square-foot space at Kingsway Plaza, 300 South Lenola Rd. in Maple Shade; a 2,490-square-foot space at 80-88 Hartford Rd. in Moorestown; and a 2,400-square-foot space at 90 Hwy. 9 South in Bayville. The Madison, Maple Shade and Bayville locations recently opened, while Moorestown and Secaucus are expected to follow soon.
In southeast Florida, The Max Challenge recently opened in a 2,313-square-foot space at Yamato Commons, located at 349 Yamato Rd. in Boca Raton, while a 2,295-square-foot location at the Beachway Shopping Center, 824 North Federal Hwy. in Pompano Beach, is expected to debut soon. All of the deals were brokered by R.J. Brunelli Senior Sales Associate Patti Fiore-AmecAngelo.
In its role with Verizon TCC, the largest premium re-seller of Verizon Wireless products in the United States, R.J. Brunelli executed lease renewals for a 3,867-square-foot end-cap unit at Downtown Plaza, 325 Jimmie Leeds Rd., in Galloway, N.J., and a kiosk at Cherry Hill Mall in Cherry Hill, N.J. Both deals were executed by CEO and Principal Ron DeLuca. R.J. Brunelli serves as exclusive sub-broker for the chain in New Jersey for master national broker Sperry Van Ness.
In Monmouth County, Ms. Fiore-AmecAngelo represented both the landlord and tenant in a deal that will bring 7-Eleven to a 3,145-square-foot freestanding building at 671 Broadway in Long Branch. The chain is expected to open in the fourth quarter of 2018. R.J. Brunelli is the preferred broker for 7-Eleven in five New Jersey counties.
Elsewhere in the county, Ms. Fiore-AmecAngelo represented the landlord on the lease that will bring a Montessori pre-school to the former 6,500-square-foot Pizza Hut building at 941 Route 35 in Middletown. The school is expected to open in the fourth quarter of 2018. Meanwhile, Ms. Brunelli represented the landlord on the lease that will bring a UPS store to an 1,872-square-foot space at Mounts Corner Shopping Center in Freehold.
In Middlesex County, Ms. Brunelli represented the landlord in a deal that recently brought Bar Louie to a 6,554-square-foot end cap space at the Plaza at Woodbridge in South Iselin. The neighborhood bar and eatery, which has over 110 locations nationwide, occupies the former Ruby Tuesday space at the center, which is anchored by Best Buy, Raymour & Flanigan, and Toys ‘R’ Us/Babies ‘R’ Us.
Meanwhile, in Ocean County, Ms. Brunelli represented the landlord on the lease that recently brought a 1,290-square-foot Boost Mobile store to the Lakeview Village Shopping Center at 198 New Hampshire Ave. in Lakewood.
In Somerset County, the firm represented the landlord on a lease that brought Barb’s Bagels to a 1,512-square-foot in-line space at the Shoppes at Pierce Street. Executive Vice President New Business Development/Principal Bill Lenaz and Sales Associate Ashley Davidson brokered the deal.
In Bergen County, Senior Sales Associate Alan Gott represented Eastern Dental on the lease for its recently opened 2,640-square-foot office at Hackensack Commons, 450 Hackensack Ave. In making its Bergen County debut, the full-service dental provider joined a tenant lineup anchored by The Home Depot and 99 Ranch Market.
In Pennsylvania, Ms. Fiore-AmecAngelo represented Redwood Real Estate Group on its acquisition of a 2.24-acre site on State Road in Croydon and subsequent land-lease of the property to Wawa for a convenience store/gas station that is expected to open in the first quarter of 2018.