Cincinnati and Union, N.J. — Cincinnati-based The Kroger Co. and Union, New Jersey-based Bed Bath & Beyond Inc. have unveiled plans for a collaboration to directly offer Kroger customers the home and baby products carried by Bed Bath & Beyond. The products will be available on Kroger’s website as well as a small-scale, physical store pilot program at select Kroger stores beginning in 2022. The products will include bedding, storage, baby furniture and baby gear from both Bed Bath & Beyond and buybuy Baby.
Vineland, N.J. — Cronheim Mortgage has arranged a $9.6 million acquisition loan for Maintree Shopping Center, a 140,000-square-foot grocery-anchored retail property located in the Southern New Jersey city of Vineland. Andrew Stewart and David Poncia of Cronheim Mortgage arranged the fixed-rate loan, which carried a five-year term and a 25-year amortization schedule, on behalf of the borrower, Aspen Real Estate. The property was 80 percent leased at the time of the loan closing. The direct lender was an undisclosed, Philadelphia-based credit union.
Holmdel, N.J. — Somerset Development has signed a lease with Oink and Moo BBQ & Burgers at Bell Works in Holmdel, about 20 miles from New Brunswick. The Southern-inspired barbecue restaurant will open in October 2021. Oink and Moo will also offer a mobile app for delivery orders, which promises the food’s arrival within 20 minutes. The new Oink and location will also offer a selection of smoker grills, custom marinades, rubs and grill accessories.
Newark, N.J. — JLL has negotiated the $9 million sale of a 62,275-square-foot retail property with redevelopment potential that is located at 727 Broad St. in one of downtown Newark’s Qualified Opportunity Zones. Michael Oliver, Marta Villa, Jose Cruz, Kevin O’Hearn and Steve Simonelli of JLL represented the undisclosed buyer and seller in the transaction.
Hillsdale, N.J. — Axiom Capital Corp. has placed a $17.8 million loan for the refinancing of a 63,000-square-foot retail building in the Northern New Jersey community of Hillsdale. An undisclosed bank provided the loan to the borrower, a private investor and developer. The property has been leased to a single tenant on a triple-net basis since 1979 and was also renovated between 2016 and 2017.
North Arlington, N.J. — Cushman & Wakefield has brokered the $13.5 million sale of Arlington Plaza, a 37,603-square-foot retail center in North Arlington, about 15 miles west of New York City. Grocer Super Foodtown anchors the property, and other tenants include Dunkin’, Taco Bell and Santander Bank. Seth Pollack, Brian Whitmer, Max Helfman, Andrew Merin, David Bernhaut and Gary Gabriel of Cushman & Wakefield represented the seller, Arlington North Associates, and procured the buyer, a privately held investment firm.
Maple Shade, N.J. — NorthBridge Partners has purchased the 72,625-square-foot Macy’s Furniture Gallery store in Maple Shade, a suburb of Philadelphia, for $9.8 million. The retail building sits on 9.4 acres and was originally built in 1991. Macy’s has occupied the building since 2001 and recently signed a 10-year lease extension. Andy Merin, David Bernhaut, Andrew Schwartz, Karen Iman, Jordan Sobel, Keith Braccia and Andre Balthazard of Cushman & Wakefield represented the undisclosed seller and NorthBridge Partners in the transaction.
Roxbury, N.J. — A joint venture between Advance Realty Investors and Invesco Real Estate has opened The Shops at Ledgewood Commons, a 450,000-square-foot open-air lifestyle center in Roxbury, about 45 miles west New York City. The site was formerly occupied by Ledgewood Mall. Walmart Supercenter anchors the center, which is also home to tenants including Marshalls, Ashley HomeStore, Men’s Wearhouse, Ulta Beauty, Five Below, Burlington, Wendy’s, Chipotle Mexican Grill, Five Guys, Panda Express and Starbucks Coffee. Jeffery Realty is the leasing agent for the property.
Toms River, N.J. — R.J. Brunelli & Co. LLC has negotiated leases with Planet Fitness and Wingstop at Toms River Shopping Center, a 253,000-square-foot property located in Toms River. Both tenants are expected to open during the third quarter of 2021. Planet Fitness will co-anchor the shopping center with Kohl’s and will take over 17,867 square feet of space that was previously occupied by Modell’s. Wingstop will occupy a 1,500-square-foot inline space formerly occupied by Liberty Travel. Danielle Brunelli of R.J. Brunelli & Co. represented the property owner in both …
Hanover, N.J. — JLL Capital Markets has brokered the $46 million sale of a 133,276-square-foot shopping center and two nearby restaurants located approximately 25 miles west of New York City in Hanover. Jose Cruz, Kevin O’Hearn, Michael Oliver, Steve Simonelli, J.B. Bruno and Nicholas Stefans of JLL represented the seller, Mack-Cali Realty Corp., and the undisclosed buyer in the transaction. Wegmans Retail Center was completed in phases in 2017 and 2020. The fully occupied center is home to tenants including Wegmans Food Markets and Panera Bread. The two recently developed …