R.J. BRUNELLI & CO. ANNOUNCES LATEST LEASE AND PROPERTY SALE DEALS
OLD BRIDGE, N.J., April 28, 2020 /PRNewswire/ — R.J. Brunelli & Co., LLC today announced the recent completion of leases with Jersey Strong, Dollar Tree, Family Dollar, and local retailers, as well as sales of freestanding restaurant and retail sites in various parts of New Jersey.
The Old Bridge-based retail real estate brokerage’s activity included the lease for a 25,067-square-foot Jersey Strong fitness center that’s expected to open in the second quarter of 2020 at Dover Park Plaza in Yardville. Located at the intersection of Sunnybrae Blvd. and South Broad St., the 56,000-square-foot Mercer County center is co-anchored by CVS. The township recently approved the addition of a 3,000-square-foot mezzanine within Jersey Strong that will be utilized for yoga and other fitness classes. Robert Kwiatkowski, R.J. Brunelli VP-Tenant Representation, represented Jersey Strong in the firm’s capacity as exclusive tenant representative for the chain throughout New Jersey. The firm also represented the landlord on the transaction in its role as exclusive leasing agent for the property, with President and Principal Danielle Brunelli serving as listing agent and Sales Associate Peter Miller serving as project manager.
In another transaction at Dover Park Plaza, Miller represented the landlord and tenant on the lease for a 1,758-square-foot Mama Dude’s restaurant. Expected to open this summer, this will be the first brick-and-mortar location for the popular food truck operator, which features build-your-own bowls with farm-fresh ingredients.
The firm also brokered a total of five deals for Dollar Tree and sister retailer Family Dollar Stores in its role as exclusive leasing representative for the two chains in New Jersey.
In Gloucester County, Dollar Tree signed a lease for a 9,600-square-foot space at Cross Keys Commons, located at 3501 Rt. 42 in Turnersville. The chain will occupy the former Children’s Place space and an adjacent vacancy at the 216,323-square-foot center anchored by Walmart, Ross, ULTA, Five Below, and Famous Footwear. Ms. Brunelli brokered the lease for Dollar Tree, which plans a second-quarter 2020 opening at the Brixmor-owned property.
Further north in Mercer County, Ms. Brunelli brokered Dollar Tree’s lease for an 11,015-square-foot space formerly occupied by CVS at 2495 Brunswick Ave. (Rt. 1) in Lawrence Township. The chain will be relocating from a freestanding building across the street to the recently acquired and renovated 367,267-square-foot center. With an anticipated third quarter 2020 opening, Dollar Tree will join a tenant lineup currently led by Burlington Coat Factory and Staples, soon to be followed by Auto Zone, LA Fitness and Lidl (in a former Acme space).
In Ocean County, a freestanding Dollar Tree is expected to open in the fourth quarter of 2020 in a new, approximately 10,000-square-foot building at 84 Lacey Rd. in Whiting. Elcan and Associates, a preferred Dollar Tree developer, purchased the site from The Kokes Organization. “The contract between Elcan and Kokes was signed in April of 2018, but the sale was not finalized until two years later, reflecting the time it took to receive approvals from all of the governmental entities,” noted Ms. Brunelli, who represented Elcan on its acquisition of the property. Located near Lake Rd., the site is in close proximity to a Stop & Shop-anchored center and a freestanding Rite Aid.
Dollar Tree additionally signed for a 10,056-square-foot space at 2695 Rte. 516 in Old Bridge R.J. Brunelli, which also serves as exclusive leasing agent for the Middlesex County property (formerly known as the Browntown Shopping Center), worked with the landlord to create the Dollar Tree site by combining four spaces: a former dollar store, pizzeria and vacant space, along with a Chinese restaurant that is relocating within the center. Dollar Tree expects to open during the third quarter of 2020 at the 93,251-square-foot center, which is anchored by a recently opened Jersey Strong and Walgreens, which previously moved from an inline space to an outparcel with a drive-thru. Ms. Brunelli represented both the landlord and tenant on the Dollar Tree transaction.
Meanwhile, Ms. Brunelli represented the landlord on a lease that will bring a 20,696-square-foot Market 516 grocery store to Walgreens’ former inline store and several adjoining spaces at the Rte. 516 center. Mike Horne of CBRE represented the tenant on that transaction. With this latest activity, vacancies at the property are limited to 10,000 square feet of second-floor space. The grocer is expected to open in the first quarter of 2021.
Meanwhile, in Union County, the firm brokered an amendment for Family Dollar that extends the chain’s lease at 227 East Front St. in downtown Plainfield and enlarges its footprint from 6,000 square feet to 10,000 square feet. The retailer, which is expanding into an adjacent 4,000-square-foot former furniture store, will also remodel its existing space. Family Dollar’s street-front location is served by a municipal parking lot directly behind the building. Nearby tenants include sister store Dollar Tree and a Supremo Food Market. Assuming Family Dollar can complete construction during the current pandemic, opening of the expanded space is estimated for the second quarter of 2020. Ms. Brunelli and Senior Sales Associate Pete Nicholson represented Family Dollar on the transaction.
In other activity, Senior Sales Associate John Lenaz brokered the sale of the former Bud’s Hut property at 906 Route 1 in the Avenel section of Woodbridge. Home to the landmark restaurant for more than 50 years, the Middlesex County site is located at the signalized intersection of Rte. 1 and Smith St. The new owner, local developer Jeff Josell, plans to redevelop the approximately one-acre property by constructing a 2,200-square-foot restaurant building with a drive-thru and a separate 3,000-square-foot retail building. RJ Brunelli is the exclusive leasing agent for the new development, with Mr. Lenaz representing both Josell and Bud’s Hut owner Bill McCormack on the land sale.
In Monmouth County, Senior Sales Associate Alan Gott brokered the sale of a freestanding, 6,600-square-foot retail building at the intersection of Rte. 35 and 18th Ave. in Wall Township to Good Friend Electric for what will become its first Monmouth County showroom. Mr. Gott represented both the buyer and seller, Mr. Remnant Carpet, on the transaction.
Finally, in another Mercer County transaction, Sales Associate Alexis Fiore brokered the lease that brought New Beginnings to a 4,340-square-foot space at 2542 Brunswick Pike (Rte. 1) in Lawrence Township. The non-profit opened earlier this year at the 19,319-square-foot property, joining Concentra Urgent Care and Jacob’s Music Center. R.J. Brunelli, which is exclusive broker for the property, also represented the tenant on the transaction.