R.J. BRUNELLI BROKERED $20.1 MILLION IN RETAIL REAL ESTATE TRANSACTIONS DURING THIRD QUARTER OF 2004
OLD BRIDGE, N.J. (12/10/4)-R.J. Brunelli & Co., Inc. today reported that it brokered $20.1 million in retail real estate transactions in New Jersey during the third quarter of 2004. Activity for the three months ended September 30 included 22 lease transactions covering properties throughout New Jersey.
Activity for the third quarter was marked by a 95,000-square-foot lease for Treasure Island Self Storage at Millstone Village on Route 537 in Millstone, brokered by sales associate Martin Yaged. Elsewhere, senior vice president Greg Williams completed two leases: one for 15,000 square feet that will bring Staples to the ITC Center on Route 46 in Mt. Olive, and a 7,100-square-foot lease that will add Elizabeth Arden to Cranford Crossing in Cranford.
During the quarter, the firm’s tenant representation services were highlighted by sales associate Danielle Brunelli’s completion of a 9,528-square-foot lease on behalf of Tuesday Morning at the Midland Park Shopping Center in Midland Park. Brunelli serves as the exclusive leasing representative for the national chain in northern and central New Jersey. In other tenant representation activity, sales associate Ron DeLuca completed a 6,000-square-foot lease on behalf of Harmon Discount at Seaview Square on Routes 35 and 66 in Ocean Township, and vice president Steve Albert closed a 1,800-sqaure-foot lease for Tiki Tan at the Mounts Corner Shopping Center in Freehold.
At properties where the firm serves as exclusive leasing agent, Brunelli sales associate Carl Minue completed an agreement with the Salvation Army for 14,926 square feet at Tiny Tots Plaza on Route 22 in Green Brook; and Ms. Brunelli brokered a lease with Serenella’s, a specialty Italian food market, for 5,000 square feet in the new Maple Tree Plaza on Route 79 in Marlboro, where executive vice president Nick Romagnoli also brokered a deal for 1,700 square feet with Kim’s Nails. Elsewhere, Mr. Minue signed Casual Male for Trebor Plaza with a 3,500-square-foot lease that brings the new property on Route 35 in Hazlet to 100% occupancy.
Brunelli was also active at Hartford Corners, a recently opened power center in Burlington County, where three additional leases were completed during the quarter. Mr. Romagnoli negotiated a 1,700-square-foot lease with Amazon Café, a 1,275-square-foot lease with Delran Florist, and a 1,700-square-foot agreement with Sun Gallery LLC. Brunelli serves as exclusive leasing agent for the 400,000-square-foot center-anchored by Lowe’s Home Improvements and Super Shop-Rite-that is located on Route 130 in Philadelphia’s New Jersey suburb of Delran
Also during the third quarter, Ms. Brunelli brokered four leases in freestanding properties on behalf of OXXO, an international chain of upscale dry cleaning stores. These included transactions for 3,800 square feet on Teaneck Road in Teaneck, for 1,500 square feet on Route 53 in Denville, for 1,500 square feet on South Dean Street in Englewood, and for 1,500 square feet on Livingston Avenue in Northvale.
In other transactions completed during the quarter, Mr. Yaged brokered a lease with Auto Zone for a 6,840-square-foot freestanding building on Route 18 in East Brunswick sales associate John Lenaz brokered a transaction for 1,863 square feet with Computer Renaissance in Shoppes at Commerce on Route 1 in North Brunswick; and Mr. Albert closed a 1,800-square-foot lease on behalf of Quiznos in a freestanding store at 82 Montgomery Avenue in Long Branch.
Including the third quarter activity, R.J. Brunelli brokered $68.9 million in transactions in New Jersey and New York-including 47 leases and two property sales-through the first nine months of 2004.
R.J. Brunelli & Co. currently serves as exclusive leasing representative for 15 existing centers and five under construction with a combined gross leasable area (GLA) of approximately 1.6 million square feet, along with eight projects in the approvals stage with more than 1.0 million square feet of GLA. The properties are located throughout northern, central and southern New Jersey. The firm also serves as exclusive tenant representative in various New Jersey, New York and Pennsylvania counties for 22 retail, restaurant and service chains. In addition to the previously mentioned chains, the firm represents such major companies as Borders Books, L.L. Bean Factory Store, Houlihan’s, and Zale’s Fine Jewelry Outlet.
For additional information on the firm’s tenant or landlord representation services, contact Richard Brunelli, president, or Greg Williams, senior vice president, R.J. Brunelli & Co., Inc., 400 Perrine Road, Suite 405, Old Bridge, N.J. 08857. Telephone is (732) 721-5800.
Press contacts: At R.J. Brunelli & Co., Inc., Richard J. Brunelli, president, (732) 721-5800; at Parness & Associates Public Relations, Bill Parness (732) 290-0121.