R.J. BRUNELLI BROKERED $48.8 MILLION IN RETAIL REAL ESTATE TRANSACTIONS DURING FIRST HALF OF 2004
OLD BRIDGE, N.J. (8/19/04)-R.J. Brunelli & Co., Inc. today reported that it brokered $48.8 million in retail real estate transactions during the first half of 2004. Activity for the six months ended June 30 included 25 lease transactions and two property sales. Properties covered by the transactions were located throughout New Jersey, and in New York State.
Activity in the second quarter of 2004 consisted of 11 lease transactions throughout New Jersey valued at $7.2 million, and was highlighted by two contracts for Maple Tree Plaza, a 66,000-square-foot neighborhood center now under construction on Route 79 in Marlboro Township. Brunelli executive vice president Nick Romagnoli brokered leases with Kindercare for a 9,500-square-foot daycare/learning center and with an independent operator for a 3,000-square-foot Wama convenience store. The firm serves as exclusive leasing agent for the property.
In its capacity as exclusive leasing agent, Brunelli also brought three new tenants during the second quarter to Hartford Corners, a 400,000-square-foot power center now under development in the Philadelphia suburb of Delran, N.J. GNC, Wings to Go (the Buffalo-style chicken wings franchise) and Gregory Dance Studio, with each taking 1,700 square feet of space. All three deals were brokered by Mr. Romagnoli. The center is anchored by a Lowe’s Home Improvement center and a Shop-Rite superstore.
At other properties where the firm serves as exclusive leasing agent, Brunelli sales associate Carl Minue closed deals for a 1,250-square-foot Cutz for Men and an 800-square-foot Shades ‘N Things at Romeo Plaza on Prospect Road in Jackson Township; vice president Steve Albert brought Marlboro Dry Cleaners to Gordon’s Corner Shopping Center in Manalapan with a 2,000-square-foot lease; and sales associate John Lenaz brokered a transaction for 1,175 square feet for Marcotte Catering in Old Mill Plaza in Sea Girt.
The second quarter’s activity was rounded out by a 2,540-square-foot lease that brought JK Italian Specialties to 248 Millburn Ave. in Millburn, brokered by senior vice president Greg Williams; and a lease for Necessities Day Spa for 1,652 square feet in the Century Plaza on Route 33 in Hamilton, brokered by Mr. Minue.
R.J. Brunelli & Co. currently serves as exclusive leasing representative for 16 existing centers and four under construction with a combined gross leasable area (GLA) of over 1.3 million square feet, along with 13 projects in the approvals stage with more than 1.7 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 21 retail, restaurant and service chains. In addition to the previously mentioned chains, the firm represents such major companies as Borders, L.L. Bean Factory Store, Houlihan’s, and Staples.
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.