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.
Bridgewater, N.J. — Pacific Retail Capital Partners (PRCP) has acquired Bridgewater Commons, a 1.2 million-square-foot mall located in Bridgewater, roughly 40 miles outside New York City, for an undisclosed price. The Village at Bridgewater Commons, an adjacent 94,000-square-foot open-air shopping center, was included in the acquisition. Tenants at the mall include Bloomingdale’s, Macy’s, Apple, J. Crew, lululemon, Athletica, Williams-Sonoma, The Cheesecake Factory, AMC Dine-In Theatres, LOFT, Maggiano’s Little Italy, Shake Shack and Starbucks Coffee. PRCP has assumed the property’s existing loan and secured an extension, with plans to transform the …
West Windsor, N.J. — Starbucks Coffee has opened a 3,000-square-foot café in West Windsor. Situated within The Square at West Windsor, a 220,000-square-foot shopping center, the location includes a drive-thru lane, conference room and outdoor seating patio. Starbucks now leases a portion of the space formerly occupied by Pier 1 Imports. The Container Store will also open at the center in 2024, which is anchored by Lowe’s and Trader Joes. Garden Commercial owns the property.
Teaneck, N.J. — Astoria Realty Corp. has sold a 20,413-square-foot retail strip center located in the Northern New Jersey community of Teaneck for $6.2 million. The property was originally built in 1930 and renovated earlier this year. Glatt’s Express Supermarket serves as the anchor of the center, which was 93 percent leased at the time of sale. Karly Iacono of CBRE represented Astoria Realty Corp. in the transaction.
Paramus, N.J. — JLL Capital Markets has arranged a $290 million loan for the refinancing of Bergen Town Center, a 1 million-square-foot shopping center in the Northern New Jersey city of Paramus. Whole Foods Market and Target anchor the property, which was originally built in 1957. Currently, Bergen Town Center is 97 percent leased by more than 70 retail tenants. Notable retailers include Ulta, Chase Bank, Kohl’s, Marshalls, HomeGoods, Burlington, Nike, H&M, CVS and Ruth’s Chris Steak House. The weighted average remaining lease term is 6.8 years, and the weighted …
Springfield, N.J. — Crunch Fitness will open a 32,000-square-foot gym at General Green Shopping Center in the Northern New Jersey community of Springfield. Crunch Fitness will backfill a space previously occupied by NY Sports Club. Marc Palestina and Chuck Lanyard of The Goldstein Group represented the undisclosed landlord in the lease negotiations. Stephen Picurro of Pierson Commercial Real Estate represented the tenant. Other tenants at the center include Gold Valley Supermarket, GNC and Springfield Bagels.
Union, N.J. — Bed Bath & Beyond Inc. (NASDAQ: BBBY) has filed for Chapter 11 protection in the U.S Bankruptcy Court for the District of New Jersey and will close all remaining stores nationwide. At the time of the filing, the company operated 360 stores across the country under its Bed Bath & Beyond brand and 120 stores under its children-centric buybuy Baby brand. All of those locations, as well as their accompanying e-commerce platforms, will remain open temporarily as the company gradually winds down operations and conducts limited marketing …
Woodcliff Lake, N.J. — Greg Maloney and Bill Rose have joined New Jersey-based Woodcliff Realty Advisors. Maloney previously served as president and chief executive office of JLL Americas Retail and is currently a retail advisor with GTM Associates LLC. Rose is senior managing director of Marcus & Millichap’s Institutional Property Advisors (IPA). Both will maintain their individual practices, with Maloney assisting Woodcliff clients with foreclosures and receiverships, acquisitions and dispositions, and development strategies for converting retail properties to mixed-use. Rose will assist Woodcliff clients in maximizing value by selling or …
Somerset, N.J. — Marcus & Millichap has brokered the $7 million sale of a gas station and convenience store property occupied by QuickChek in the Northern New Jersey community of Somerset. Matthew Klang and Michael Tuccillo of Marcus & Millichap represented the undisclosed seller and developer in the transaction. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
Paramus, N.J. — Kingsmen Xperience, a subsidiary of Kingsmen Creatives Ltd., and Good Vibrations will open two branded location-based entertainment (LBE) attractions totaling 56,000 square feet at Westfield Garden State Plaza in Paramus, roughly 25 miles northwest of New York City. Both attractions, Nerf Action Xperience and Planet Playskool, will open later this year and feature immersive activities, retail stores and food and beverage areas. The Nerf attraction will comprise 36,000 square feet, with Planet Playskool occupying 20,000 square feet. These openings mark the beginning of a strategic partnership between …