Sicklerville, N.J. — Marcus & Millichap’s Institutional Property Advisors (IPA) has arranged the sale of Gloucester Town Center, a 102,660-square-foot shopping center located in Sicklerville, roughly 23 miles outside Philadelphia. A 57,560-square-foot ACME Markets store anchors the property. Other tenants include Dollar Tree, Supercuts, AT&T, Pizza Hut and Mavis Discount Tires. Brad Nathanson of IPA represented the seller, KPR Centers, in the transaction.
Lawrenceville, N.J. — Federal Realty Investment Trust has announced the rebranding of Mercer Mall in Lawrenceville, roughly 40 miles northeast of Philadelphia. Moving forward, the property, which totals 551,000 square feet, will be known as Mercer on One. Federal Realty has also signed leases with two new tenants at the property. J. Crew Factory will occupy 6,100 square feet, and Crate and Barrel has opened a 42,000-square-foot store. Additionally, DSW is currently undergoing a full remodel and façade upgrade. Ashton Design led the rebranding effort.
Montgomery Township, N.J. — SJC Ventures, a privately held commercial real estate and retail development firm based out of Atlanta, has broken ground on Montgomery Promenade in the New York City suburb of Montgomery Township. Situated on a 54-acre site on Route 206, Montgomery Promenade will comprise 292,700 square feet and feature palisades for walking, green spaces, outdoor dining and restaurants. According to the Montgomery Township website, the project also includes 34 single-family detached homes that buffer the existing homes on Route 518 and the new shopping center. A Whole Foods …
Allendale, N.J. — Azarian Realty Co. has fully leased Allendale Town Center, a 90,000-square-foot shopping center located in Allendale. Philly Pretzel Factory recently signed a 1,254-square-foot lease at the property, bringing the center to full occupancy. Kevin Pelio of Azarian represented both the tenant and landlord in the leasing negotiations. Other tenants include AM/PM Urgent Care, Bergen County Pediatric Dentistry and Primo Hoagies. Azarian is the exclusive leasing agent for the center.
Kenilworth, N.J. — Pure Hockey has signed an 11,340-square-foot lease in Kenilworth. Dean Tselepis of Newmark represented Pure Hockey in the lease negotiations. The hockey equipment retailer will open a store in a space formerly occupied by Clean Land Laundromat. Chuck Lanyard of The Goldstein Group represented the landlord, an entity doing business as Kenilworth 2480 Route 22 LLC.
Cherry Hill, N.J. — UNIQLO will open an 8,200-square-foot store at Cherry Hill Mall in Cherry Hill. Situated on the mall’s first level, the store will mark the sixth in the state for the retailer. PREIT is the owner and operator of the property.
Egg Harbor Township, N.J. — New Jersey-based Spirit Halloween has announced that it will open more than 1,500 seasonal stores throughout the U.S. this year. Stores typically occupy between 5,000 and 50,000 square feet and remain open eight to ten weeks. The company plans to hire 40,000 associates to staff the locations.
Morris Township, N.J. — A joint venture between Accurate and DeVimy Equities has opened Morris Marketplace, a 140,000-square-foot retail center located in Morris Township. Of the 24 tenants that have signed leases at the property, 17 are currently open. Tenants at the center include Burlington, European Wax, Tropical Smoothie, Wells Fargo, Jersey Mike’s and Orangetheory Fitness.
Elizabeth and Roselle, N.J. — Cronheim Mortgage has arranged a $13.1 million loan for the acquisition of two retail centers located in New Jersey. The first property, Color Plaza, comprises 49,309 square feet in Elizabeth. Tenants at the center, which was fully leased at the time of the transaction, include Seabras and CVS/pharmacy. Developed in 2004, the second property is Roselle Commons in Roselle. The center was fully leased at the time of the transaction to tenants including Pep Boys, Green Grocer, Quest Diagnostics, GNC and T-Mobile. Andrew Stewart, Dev Moris …
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.
