OLD BRIDGE, N.J. (1/20/05)—R.J. Brunelli & Co., Inc. today reported that it brokered $98 million in retail real estate transactions in New Jersey and surrounding states during 2004, including deals valued at $29.1 million in the fourth quarter.

The Old Bridge-based retail real estate firm’s activity over the 12 months ended December 31 included 62 lease transactions aggregating $77.4 million and six sales totaling $20.6 million in the Garden State, New York and Pennsylvania.

Transactions executed in the fourth quarter of 2004 included 13 leases for $19.3 million and four sales for $9.8 million in New Jersey and New York.

Leases completed during the fourth quarter included transactions with Home Goods for 25,000 square feet, Radio Shack for 1,923 square feet and Zion Totalle Wellness Spa for 2,125 square feet at Hartford Corners, a power center that recently opened on Route 130 in Delran, N.J. All deals were brokered by Brunelli executive vice president Nick Romagnoli. Brunelli serves as exclusive leasing agent for the 400,000-square-foot center, which is anchored by Lowe’s Home Improvements and Super Shop-Rite.

The firm’s tenant representation services were highlighted during the fourth quarter by senior vice president Greg Williams’ completion of a 19,669-square-foot lease on behalf of Staples at Watchung Square in Watchung, N.J.; sales associate Danielle Brunelli’s execution of a 11,047-square-foot lease on behalf of Tuesday Morning at the Blue Star Center in Watchung;  vice president Steve Albert’s consummation of a 6,000-square-foot lease on behalf of Harmon Discount at Hadley Center II in South Plainfield, N.J.; and sales associate Ron DeLuca’s execution of a 3,200-square-foot lease for Baja Fresh at Wick Plaza in Edison, N.J.

In other major transactions completed during the fourth quarter, sales associate Carl Minue brokered the lease that will bring Sixth Avenue Electronics to Hudson Mall to Jersey City in a 25,000-square-foot space; sales associate Marty Yaged brokered the sale of a 4.5-acre property at 1606 Hwy. 35 in Ocean Township, N.J., that includes a 35,000-square-foot building (formerly housing the 99-Cent Dollar Store), to furniture retailer Raymour & Flanigan; Mr. Williams brokered the sale of 22,000 square feet of excess Home Depot space on Cropsey Avenue in Brooklyn to Extra Space Storage, which plans to open a self-storage facility; and Mr. Romagnoli brokered the sale of a 2.8-acre site adjoining Bucci Furniture in Delran.

Other fourth quarter deals at properties where the firm serves as exclusive leasing agent included a 4,800-square-foot lease with Fitness Associates at Old Mill Plaza in Sea Girt, N.J, brokered by sales associate John Lenaz; a 2,100-square-foot lease with Planet Beach for the E.J. Roberts building in Neptune, N.J., brokered by sales associate Hung Lam; and a 1,500-square-foot lease with Dr. David Elliot, D.D.S., for Romeo Plaza in Jackson, N.J., brokered by Mr. Minue.

The firm’s fourth quarter transactions were rounded out by the sale of a liquor license on Route 18 in East Brunswick to Hooter’s, brokered by Mr. Yaged; and a lease with Sugar Free Express for 1,420 sq. ft. in a portion of a freestanding building, on Warren Road in Wall Township, N.J., brokered by John Lenaz.

“The strong fourth quarter activity, which was highlighted by a number of deals with major big-box retailers and national restaurant chains, capped another strong year for R.J. Brunelli & Co. on both the tenant and landlord representation fronts,” commented Richard J. Brunelli, president of the firm. “We look for even better things in 2005, as we begin our role as exclusive leasing representative for a new lifestyle center being built on the site of the former Meyers center on Route 18 in East Brunswick and go forward with leasing on The Village at Manalapan, a planned mixed-use, town center on Highway 33 in Western Monmouth County. Initial phases of The Village are expected to open during 2006, including portions of the 135-acre property’s lifestyle center, neighborhood center, dining/entertainment component and downtown area.”

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.