New Jersey

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LeasingNew JerseyNews

Connell Co. Signs Leases with Five New Tenants at The Park Mixed-Use Development in Berkeley Heights, New Jersey

by Abby Cox

Berkeley Heights, N.J. — The Connell Co. has signed leases with five new tenants at The Park, a 185-acre mixed-use campus located in the northern New Jersey community of Berkeley Heights. The newest retailers will be situated within The District at The Park, a 60-acre downtown that will be anchored by a walkable main street and 160,0000 square feet of lifestyle, wellness and dining options. Four Spoons Ice Cream Co., Doner Shack, Café Exchange, Prime IV Hydration & Wellness and Greatness Wins will debut in July. In addition to the …

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1030-1050-Route-46
FinanceGrocery-anchoredNew JerseyNews

JLL Arranges $11.5 Million in Financing for Redevelopment of Retail Center in Clifton, New Jersey

by Abby Cox

Clifton, N.J. — JLL Capital Markets has arranged $11.5 in financing for the acquisition of 1030 — 1050 Route 46, a formerly vacant commercial building that is being redeveloped as a grocery-anchored retail center in Clifton, approximately 12 miles west of New York City. Ryan Carroll, Nazario Paragano and Christian Badalamenti of JLL secured the three-year, floating-rate loan through Fidelity Investments on behalf of the undisclosed borrower. The building, which occupies a 4.3-acre site at the intersection of Route 46 and Route 3, will undergo approximately $1.5 million in capital improvements, …

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Franklin Village Plaza
ConnecticutFinanceGrocery-anchoredMassachusettsNew JerseyNewsPennsylvania

Newmark Group Arranges $415 Million in Financing for Northeast Grocery-Anchored Retail Portfolio

by Abby Cox

New York — Newmark has arranged a $415 million loan to refinance a retail portfolio across Connecticut, Pennsylvania, New Jersey and Massachusetts. Totaling 2.4 million square feet, the portfolio comprises 13 open-air centers that are located in densely populated infill markets. Twelve of the properties are anchored by grocery tenants. Jordan Roeschlaub, Nick Scribani, John Caraviello and Dan Axelson and Adam Doneger of Newmark secured the financing through HPS Investment Partners on behalf of a separate managed account for the borrowers, DRA Advisors and KPR Centers.

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Speedway
Investment salesNew JerseyNews

NAI DiLeo-Bram & Co. Negotiates $4.5 Million Sale of Single-Tenant Retail Property in Linden, New Jersey

by Abby Cox

Linden, N.J. — NAI DiLeo-Bram & Co. (NAIDB) has negotiated the $4.5 million sale of a single-tenant retail property located in the northern New Jersey community of Linden. The 3,650-square-foot gas station and convenience store was formerly occupied by Speedway. Jennifer Harrison of NAIDB represented the buyer, Rona 22 LLC, which is doing business as Fuel One. Glenn Beyer of Newmark and Justin Glenn of Excess Space represented the seller, Speedway LLC, in the transaction. Fuel One plans to continue operating the location as a fuel and convenience center and expects …

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Stafford-Park
Investment salesNew JerseyNews

JLL Negotiates $20.5 Million in Refinancing for Stafford Park in New Jersey

by Abby Cox

Stafford Township, N.J. — JLL Capital Markets has arranged a $20.5 million loan to refinance Stafford Park, a 140,893-square-foot shopping center located in Stafford Township near the Jersey Shore. Jim Cadranell, Ryan Carroll and Christian Badalamenti of JLL secured the five-year, fixed-rate loan through an investment manager on behalf of the borrower, Walters Group. Developed by Walters Group in 2007, the open-air center is fully leased to tenants such as Dick’s Sporting Goods, Best Buy, PetSmart and Ulta Beauty. Stafford Park is also shadow-anchored by Costco and Target.

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Nassau Park Pavilion
Grocery-anchoredInvestment salesNew JerseyNews

CBRE Brokers Sale of 760,765-Square-Foot Power Center in Princeton, New Jersey

by Abby Cox

Princeton, N.J. — CBRE has brokered the sale of Nassau Park Pavilion, a 760,765-square-foot power center located in Princeton. Wegmans anchors the center, which is also home to tenants such as Target, Home Depot, Five Below, Floor & Décor, Just Salad, Bluestone Lane and Mezeh. Chris Munley, Colin Behr, Ryan Sciullo and Casey Benson Smith of CBRE represented the seller, SITE Centers Corp., in the transaction. The buyer was Bridge 33 Capital.

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The-Shoppes-at-North-Brunswick
Investment salesNew JerseyNews

JLL Negotiates Sale of The Shoppes at North Brunswick in Central New Jersey

by Abby Cox

North Brunswick, N.J. — JLL Capital Markets has negotiated the sale of The Shoppes at North Brunswick, a 147,000-square-foot shopping center located in North Brunswick, approximately 40 miles southwest of Manhattan. Built in 2007 across nearly 16 acres, the center is 86.7 percent occupied. Tenants at the property, which is home to 42 retailers and five office tenants, include Starbucks, Chipotle Mexican Grill, Bath & Body Works, Men’s Warehouse, Crumbl Cookies, Banana Republic, Big Blue Swim School and Orangetheory Fitness. Roughly 20,000 square feet is still available for lease. Jose …

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Millburn-Village
FinanceNew JerseyNews

Ameritas Investment Corp. Provides $13.5 Million in Refinancing for Millburn Village in Vauxhall, New Jersey

by Abby Cox

Vauxhall, N.J. — Ameritas Investment Corp. has provided a $13.5 million loan for the refinancing of Millburn Village, a 71,177-square-foot shopping center in Vauxhall. Ryan Carroll, Tyler Caricato and Caleb Henry of JLL arranged the three-year, fixed-rate loan on behalf of the borrower, Lightstone. Tenants at Millburn Village include Walgreens, Staples and Five Guys, among others. Lightstone originally acquired Millburn Village in 2003.

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target-west-orange-plaza
LeasingNew JerseyNews

Levin Management Corp. Signs Three New Leases at West Orange Plaza in Northern New Jersey

by Abby Cox

West Orange, N.J. — Levin Management Corp. (LMC) has signed three new leases at West Orange Plaza, a 298,000-square-foot grocery-anchored center in West Orange, about 20 miles west of Manhattan. Quickway Japanese Hibachi will open a 1,511-square-foot restaurant, while Namkeen Hot Chicken Joint will debut a 1,460-square-foot venue. Lastly, VIO Med Spa will occupy 1,923 square feet. The recently signed tenants will be joining a roster of various retailers and restaurants including Verizon, Chipotle Mexican Grill, Jersey Mike’s Subs, Whole Foods Market, Dogtopia, America’s Best Contacts & Eyeglasses and a …

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The Gardens
Investment salesNew JerseyNews

JLL Arranges $27.9 Million Sale of 167,532-Square-Foot Retail Portfolio in Mt. Olive, New Jersey

by Abby Cox

Mt. Olive, N.J. — JLL Capital Markets has arranged the $27.9 million sale of a net-leased retail portfolio totaling 167,532 square feet in in the northwestern township of Mt. Olive. The deal comprises nine properties that make up the fully leased power center known as The Gardens, which includes a standalone 135,039-square-foot Lowe’s Home Improvement store and seven pad sites spanning a combined 32,493 square feet. Tenants at the property include Applebee’s Grill & Bar, LongHorn Steakhouse, Panera Bread, Wells Fargo, McDonald’s, Wendy’s, Panda Express and Chipotle Mexican Grill. Kevin …

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