New Jersey

SuperFresh_Middlesex-N.J

Middlesex, N.J. — NAI DiLeo-Bram & Co. (NAIDB) has arranged the $8.6 million sale of a 69,750-square-foot retail center located in Middlesex. A new 57,000-square-foot SuperFresh anchors the property. Situated on 3.9 acres adjacent to The View Apartments, the center also features a 6,115-square-foot liquor store and 6,300 square feet of second-floor office space. Marc Shein of NAIDB represented the undisclosed seller in the transaction. Bennett Realty & Development represented the buyer. 

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Berkeley Heights, N.J. — The Connell Co. will open a 25,000-square-foot fitness facility at The Park, the locally based developer’s 185-acre mixed-use redevelopment in the Northern New Jersey community of Berkeley Heights. The facility will be known as FIELDHOUSE and will offer fitness regimens such as Pilates, yoga and boxing. Members will also have access to a game room, a meditation room, nap and recovery rooms, a health bar and personal trainers and in-house nutritionists. The opening is scheduled for March.

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Toronto, Canada and Washington, D.C. — Avison Young has entered into an agreement to acquire Madison Marquette’s retail platform for an undisclosed price. The acquisition will include the Washington, D.C.-based firm’s retail property management, marketing and leasing services throughout the U.S.; and a portfolio comprising more than 6.1 million square feet of properties managed and leased by Madison Marquette. Madison Marquette teams will integrate with those of Toronto, Canada-based Avison Young in Los Angeles, New Jersey, Philadelphia, Indiana, Arkansas, Maryland, Virginia, Atlanta and Florida, and the acquisition expands Avison Young’s presence …

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ACME-Markets_Saddle-Brook-N.J

Saddle Brook, N.J. — JLL Capital Markets has brokered the $16.1 million sale of a 62,504-square-foot single-tenant property located in Saddle Brook, roughly 20 miles outside New York City. ACME Markets occupies the building, which was constructed in 1998. The Winter Organization acquired the property. Jose Cruz, Kevin O’Hearn, J.B. Bruno and Austin Pierce of JLL represented the seller, Vision Real Estate Partners, in the transaction. 

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Barnegat, N.J. — JLL has secured an $8.3 million loan for the refinancing of Barnegat Village Square, a 70,491-square-foot shopping center located in Barnegat on the Jersey Shore. Built in 1998, the property was 97 percent leased at the time of financing. ACME Markets anchors the center. Other tenants include Barnegat Wine & Spirits, China King, AtlantiCare Urgent Care, Marchioni’s, Dazzlz Salon and Burger King. Jim Cadranell and Michael Mataras of JLL arranged the 10-year, fixed-rate loan through Provident Bank on behalf of the borrower, an affiliate of Walters Group.

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Cedar-Hill-Shopping-Center_Voorhees-N.J

Voorhees, N.J. — CBRE has arranged the $13 million sale of three standalone properties and an undeveloped land parcel situated within Cedar Hill Shopping Center, a 366,000-square-foot retail center located in Voorhees. The properties include Units 2, 3 and 4, which total 62,358 square feet. Tenants at the properties include Starbucks Coffee, The Vitamin Shoppe, AT&T and a 22,000-square-foot Savers Thrift Store. Lowe’s, BJ’s Wholesale Club and Aldi anchor Cedar Hill Shopping Center. Matthew Gorman, Michael Shover, Thomas Finnegan and Rob Thompson of CBRE represented the seller and procured the buyer …

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Burlington-Mall_Burlington-N.J

Burlington, N.J. — Moonbeam Capital is nearing completion on the first phase of the redevelopment of Burlington Center Mall, a 680,000-square-foot formerly vacant enclosed mall property located in Burlington. Moonbeam acquired the mall in 2012 and has repositioned the property as The Crossings, a 370-acre mixed-use development. Phase 1 features roughly 100,000 square feet of retail and restaurant space. Tenants include Raising Cane’s, Sleep Number, Panera Bread, Freddy’s Frozen Custard & Steakburgers and Discount Tire. Plans for Phase II include potential medical office, hotel and fitness space. 

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Princeton, N.J. — The Container Store Group has opened a store in Princeton, New Jersey, marking the 100th location for the brand. The store features the retailer’s small-format design, which averages 12,500 square feet and includes a full Custom Spaces Studio. The Container Store is also scheduled to open a store next spring in Gaithersburg, Maryland. 

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A-and-G-Rite-Aid

Camp Hill, Pa. — A&G Real Estate Partners will market 79 Rite Aid store leases for sale, in its capacity as real estate advisor to the company, pending approval by the U.S. Bankruptcy Court for the District of New Jersey. Part of Rite Aid’s financial restructuring process, this marks the third tranche of leases to be sold and follows a set of 92 store leases that became available in November. Ranging from 5,502 to 31,468 square feet, the leases are located in 11 states, including California, Connecticut, Maryland, Michigan, New Jersey, …

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Baseline-Social

Oceanport, N. J. — Baseline Social, a bar, restaurant and entertainment concept, has opened a 17,100-square-foot venue in Oceanport. Situated within The Commissary at Baseline, the space features a 640-foot LED viewing wall, 38-seat platform lounge and 3,700-square-foot entertainment section with five virtual golf bays. Other tenants at the property include Birdsmouth Beer and MGT Foods. Denholtz Properties is the developer and landlord at The Commissary. 

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