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Company newsLeasingNew JerseyNews

Babies”R”Us Opens Flagship Store at American Dream Development in Metro New York City

by Hayden Spiess

East Rutherford, N.J. — Babies”R”Us has opened flagship store at American Dream, a 3 million-square-foot retail development located in East Rutherford, roughly 13 miles outside New York City. In addition to a baby registry lounge, nursery design center, learning center and comfort zone, the store features interactive experiences. This marks the return of the chain to the U.S. following WHP Global’s acquisition of both the Babies”R”Us and Toys”R”Us brands in 2021 and the opening of a Toys”R”Us flagship store last year. 

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LeasingNew JerseyNewsRestaurants

First Watch to Open 3,846-Square-Foot Restaurant in Brick Township, New Jersey

by Hayden Spiess

Brick Township, N.J. — First Watch will open a 3,846-square-foot restaurant in Brick Township. Scheduled to open in 2024, the property will be situated on a pad site within Brick Commons, a 278,145-square-foot retail center. Amy Staats and Hugh Scullin of Katz & Associates represented the tenant in the leasing negotiations. 

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Company newsFinanceNew JerseyNews

All 120 Buy Buy Baby Stores to Close

by Hayden Spiess

Union, N.J. — All 120 Buy Buy Baby stores will close following the bankruptcy of its parent company, Bed Bath & Beyond, reports CNBC. Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in April, previously planned to sell the chain, with brand management firm Go Global Retail interested in acquiring Buy Buy Baby and continuing to run its stores. Instead, Dream on Me Industries has purchased the brand’s trademark and digital assets for $15.5 million. Buy Buy Baby’s website reports that though stores currently remain open, they have “made the difficult …

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Walmart Supercenter
Investment salesNet leaseNew JerseyNews

Pegasus Arranges $55 Million Acquisition of Single-Tenant Property in New Jersey

by Hayden Spiess

Linden, N.J. — Pegasus Investments Real Estate Advisory Inc. and Pegasus Capital Markets Inc. have arranged the $55 million acquisition of a 186,000-square-foot single-tenant retail property located in Linden. Walmart Supercenter fully occupies the property, which is situated on 14 acres, with a 20-year triple net lease. Pegasus represented the buyer, a partnership of investors, in the transaction and secured acquisition financing. Mark Keener and Adam Block of Gallagher Evelius & Jones LLP served as counsel for the buyer. SRS National Net Lease Group represented the seller, a joint venture between …

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Eddie V's
LeasingNew JerseyNews

Two Tenants Join Cherry Hill Mall in New Jersey 

by Hayden Spiess

Cherry Hill, N.J. — Two new tenants have opened at Cherry Hill Mall, a PREIT shopping center located in Cherry Hill. Earlier this month, seafood restaurant Eddie V’s opened at the property, and clothing retailer Psycho Bunny also recently opened a store within the mall. Additionally, the H&M, Garage and Aldo stores at the mall have been remodeled, and Brooks Brothers and UNIQLO are scheduled to join the tenant roster this summer, with Oak & Fort expected to open a store at the property later this year. 

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ISLAND Waterpark NJ
DevelopmentEntertainmentNew JerseyNews

Tower Investments Opens 120,000-Square-Foot Waterpark in Atlantic City

by Hayden Spiess

Atlantic City, N.J. — Tower Investments has developed ISLAND Waterpark, a 120,000-square-foot waterpark located at The Showboat Resort in Atlantic City. Scheduled to open June 30, the property features 11 slides, a surf simulator, man-made waterfall, rollercoaster, zipline course, treehouse, water sports pool, play area for children and a lazy river. Additionally, the waterpark includes six bars and a 10,000-square-foot adults-only space. 

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Investment salesNew JerseyNews

Marcus & Millichap Arranges Sale of 21,080-Square-Foot Retail Property in North Brunswick, New Jersey

by Hayden Spiess

North Brunswick, N.J. — Marcus & Millichap has arranged the $4.4 million sale of Church Lane Plaza, a 21,080-square-foot retail property in North Brunswick, about 40 miles southwest of Manhattan. Built on 2.9 acres in 1991, Church Lane Plaza was 90 percent leased at the time of sale to tenants including Bagel Fresh, Brunswick US Cleaners, Karate School, F45 Fitness and Thai Lotus. Brent Hyldahl and Alan Cafiero of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a New Jersey-based limited liability company, in the transaction.

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FinanceNew JerseyNews

Cronheim Mortgage Arranges $50 Million Permanent Loan for Northern New Jersey Shopping Center

by Hayden Spiess

Woodcliff Lake, N.J. — Cronheim Mortgage has arranged a $50 million permanent loan for Tice’s Corner, a 120,000-square-foot shopping center in the Northern New Jersey community of Woodcliff Lake. The two-building center was constructed on 13.4 acres in 2001 and was fully leased at the time of the loan closing. Tenants at the property include Apple, Anthropologie, Free People, GAP, J. Crew, Panera Bread, Pottery Barn, Madewell, Nike and Williams-Sonoma. Dev Morris, Andrew Stewart and Allison Villamagna of Cronheim arranged the loan on behalf of the borrower, an affiliate of Connecticut-based …

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Investment salesNew JerseyNews

JLL Brokers $18 Million Sale of Shopping Center in Metro New York City

by Hayden Spiess

Woodland Park, N.J. — JLL Capital Markets has brokered the $18 million sale of West Falls Plaza, a 90,945-square-foot shopping center located in Woodland Park, roughly 20 miles outside New York City. Tenants at the property include The Home Depot, Best Buy and Petco. Jose Cruz, J.B. Bruno, Kevin O’Hearn and Michael Zlotnick of JLL represented the undisclosed seller in the transaction. An affiliate of Northeast Capital Group purchased the property.

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LeasingNew JerseyNews

Azarian Realty Negotiates 9,746-Square-Foot Retail Lease in North Brunswick, New Jersey

by Hayden Spiess

North Brunswick, N.J. — Azarian Realty Co. has negotiated a 9,746-square-foot retail lease at The Shoppes at North Brunswick in Northern New Jersey. Kevin Pelio of Azarian represented the undisclosed landlord in the lease negotiations. David Dunkelman of Soloff Realty & Development represented the tenant, Big Blue Swim School. The new lease brings Shoppes at North Brunswick to 94 percent occupancy.

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