New Jersey

The Gardens

Mt. Olive, N.J. — R.J. Brunelli & Co. has arranged a 16,400-square-foot lease at The Gardens, a 373,612-square-foot shopping center located in Mt. Olive. Fitness Factory is the tenant and will open a store within a space formerly occupied by Bed Bath & Beyond. A recently opened Boot Barn occupies the other portion of the former Bed Bath & Beyond. Other tenants at the property include Ross Dress for Less, HomeGoods and Skechers, which is scheduled to open in June. Panda Express and Chipotle Mexican Grill have also signed leases at …

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Union Lake Crossing

Millville, N.J. — New tenants have signed leases totaling 46,000 square feet at Union Lake Crossing, a 393,000-square-foot retail center located in Millville in southern New Jersey. Irgang Group owns and operates the property, which is anchored by ShopRite.  Old Navy will open a 15,000-square-foot store at the property, joining Fun City in occupying a space that formerly housed Dick’s Sporting Goods. Michael Friedman of Inline Realty represented Old Navy in the lease negotiations. Food-and-beverage concepts Five Guys, Poke Bros. and Crumbl have also signed leases at the center, with Five …

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Cherry Hill, N.J. — Five new tenants have signed leases totaling 30,000 square feet at Cherry Hill Mall, a 1.4 million-square-foot shopping center located in Cherry Hill. Alo Yoga, Kendra Scott and Signature Workspace are scheduled to open at the property this year. Dry Goods and Rowan have also signed leases at the center, with the latter scheduled to open next spring. PREIT owns and manages the property. 

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Sayreville, N.J. — Marcus & Millichap has brokered the $7.2 million sale of a 25,898-square-foot retail center located in Sayreville, about 40 miles south of Manhattan. QuickChek anchors the property, which was 97 percent leased at the time of sale to 14 tenants. Ala Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction.

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Monouth-Mall-Redevelopment-Eatontown-N.J

Eatontown, N.J. — Kushner has today broken ground on the $500 million mixed-use redevelopment of Monmouth Mall in Eatontown, roughly 50 miles outside New York City. Upon completion, the property will comprise 900,000 square feet of retail and restaurant space. Whole Foods Market will anchor the development, which will also feature a public green, pedestrian pathways, 1,000 residential units and medical office space. Construction will include the demolition of 600,000 square feet of retail space at the site. 

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Wayne, N.J. —Sportime Pickleball will open a 50,000-square-foot facility in the Northern New Jersey community of Wayne. The venue will feature 18 courts. Neil Seth, Jennifer Konefsky, Kenji Ota and Kathryn Cruz of Cushman & Wakefield represented Sportime Pickleball in the lease negotiations. Curtis Nassau and Patrick Brake of RIPCO Real Estate represented the landlord, Kimco Realty. The opening is scheduled for the first quarter of 2025.

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New York City — New York City-based footwear retailer Foot Locker has introduced a new store format, debuting the design at its location within Willowbrook Mall in Wayne, New Jersey. Features of the new format include a more streamlined store layout, dedicated sections for new product releases, enhanced presentation, a communal try-on are, omnichannel technology and a “sneaker hub” with lacing customization and expanded ordering options. Foot Locker plans to open additional stores with this design throughout 2024, including at the retailer’s flagship location in New York City. Additionally, the brand …

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Flemington, N.J. — Marcus & Millichap has arranged the $6.2 million sale of The Shoppes at Flemington, a 130,613-square-foot shopping center in Central New Jersey. HomeGoods and Ulta Beauty anchor the property, which was leased to 26 tenants at the time of sale. Alan Cafiero and Brent Hyldahl of Marcus & Millichap represented the seller and procured the buyer in the transaction. 

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Seattle — Seattle-based retailer Nordstrom has announced plan to open 26 new Nordstrom Rack stores. Openings are scheduled to begin this spring and continue through spring 2025. The sites of the new stores include locations in Arizona, California, Florida, Georgia, Illinois, Indiana, Nebraska, New Jersey, New York, North Carolina, Ohio and Texas.

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Town-Center-Plaza_East-Windsor-N.J

East Windsor and Garwood, N.J. — Cronheim Mortgage has secured $17.5 million in financing for two shopping centers in New Jersey. Andrew Stewart, Dev Morris and Allison Villamagna arranged the financing on behalf of the borrower, a New Jersey-based real estate firm that specializes in the development and acquisition of retail properties in the state. Southern Farm Bureau Life Insurance Co. provided the financing for the first property, Town Center Plaza in East Windsor. The $11 million, long-term loan features a step-down prepayment structure in the final 10 years of the …

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