New Jersey

Grocery-anchoredInvestment salesNew JerseyNewsRetailers

JLL Negotiates Sale of 94,550-Square-Foot Shopping Center in Metro Philadelphia

by Alex Tostado

Sewell, N.J. — JLL has negotiated the sale of Mill Pond Village, a 94,550-square-foot shopping center in Sewell, New Jersey. Grocery store ShopRite anchors the property, which was 98 percent leased at the time of sale to other tenants such as Inspira Health, Orangetheory fitness, Hair Cuttery and AAA. The asset is situated at 380 Egg Harbor Road, 19 miles south of downtown Philadelphia. Jim Galbally, Chris Munley, Jose Cruz, Colin Behr and Steve Simonelli of JLL represented the undisclosed seller in the transaction. Further details of the sale were …

Continue Reading
0 FacebookTwitterLinkedinEmail
Grocery-anchoredInvestment salesNew JerseyNewsRetailers

Marcus & Millichap Arranges Sale of 138,445-Square-Foot Retail Property in Vineland, New Jersey

by Alex Tostado

Vineland, N.J. — Marcus & Millichap has arranged the sale of Maintree Shopping Center, a 138,445-square-foot retail property located in the Southern New Jersey city of Vineland. The asset sold for $13.1 million. A 60,000-square-foot Acme grocery store anchors the property along with a Dollar Tree store. Kodi Traver, Joseph French Jr., Thomas Dalzell and Mark Taylor of Marcus & Millichap represented the seller, a private investor, in the transaction. Additional terms of sale were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
Grocery-anchoredInvestment salesNew JerseyNewsRetailers

Sterling Organization Acquires 94,550-Square-Foot Grocery-Anchored Retail Center in Sewell, New Jersey

by Alex Tostado

Sewell, N.J. — Sterling Organization, a Florida-based private equity firm, has acquired Mill Pond Village, a 94,550-square-foot, grocery-anchored retail center located in the Southern New Jersey community of Sewell. ShopRite is the anchor grocer at the center, which is located approximately 14 miles outside of Philadelphia. The seller was EDENS, a national retail development firm. Jim Galbally, Chris Munley and Colin Behr of JLL brokered the transaction. The property was 95 percent leased at the time of sale.

Continue Reading
0 FacebookTwitterLinkedinEmail
LeasingNew JerseyNewsRetailers

R.J. Brunelli Arranges Four Retail Leases in New Jersey

by Alex Tostado

Old Bridge, N.J. — R.J. Brunelli & Co. LLC has arranged four retail leases on behalf of Family Dollar, European Wax Center and Liberty Discount Furniture & Mattress. Family Dollar will move into an 11,878-square-foot space within Hawthorne Center in Hawthorne. Family Dollar will move into the space that sister chain Dollar Tree formerly occupied. Dollar Tree is moving across the property to a former Flaming Grill Buffett location. Family Dollar is expected to open in the third quarter of this year while Dollar Tree will open in the second …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNew JerseyNewsRetailers

Bed Bath & Beyond Reports Third-Quarter Sales Growth, Will Continue Store Closures

by Alex Tostado

Union, N.J. — Bed Bath & Beyond reported 2 percent comparable sales growth for its fiscal third quarter that ended Nov. 30, an increase that was fueled largely by 77 percent growth in digital sales compared with the same period a year ago. Despite this growth, the Union, New Jersey-based retailer will continue with its plan that was announced in July of last year to close some 200 stores by mid-2022. According to CNBC, this includes the closing of 43 stores by the end of February. Bed Bath & Beyond also agreed in …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaCompany newsNew JerseyNewsRetailers

Bed Bath & Beyond Agrees to Sell Cost Plus World Market to Private Equity Firm, Including 243 Stores

by Alex Tostado

Union, N.J. and Los Angeles — Bed Bath & Beyond Inc. has agreed to sell Cost Plus World Market, a specialty retail chain that sells home furniture, décor and international food products. The buyer, Los Angeles-based private equity firm Kingswood Capital Management, expects to continue operations under the Cost Plus World Market banner. The purchase agreement includes 243 brick-and-mortar locations, the World Market digital business, two distribution facilities and a corporate office located in Alameda, California. Both companies have agreed to a transition services agreement (TSA) following the close of …

Continue Reading
0 FacebookTwitterLinkedinEmail
Investment salesNew JerseyNews

Marcus & Millichap Brokers Sale of 20,986-Square-Foot Retail Property in Middlesex, New Jersey

by Katie Sloan

Middlesex, N.J. — Marcus & Millichap has brokered the sale of a 20,986-square-foot retail property in Middlesex, about 40 miles southeast of New York City. Alan Cafiero, Brent Hyldahl and Ben Sgambati of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer, an individual/personal trust. Both parties requested anonymity.

Continue Reading
0 FacebookTwitterLinkedinEmail
MallsNew JerseyNewsRetailers

Triple Five Group Reopens American Dream in East Rutherford, New Jersey

by Alex Tostado

East Rutherford, N.J. — Triple Five Group has reopened the American Dream shopping and entertainment destination in East Rutherford, located just outside New York City. American Dream is located in the Meadowlands Sports Complex by MetLife Stadium, home of the New York Jets and Giants and features some 3 million square feet of retail and entertainment space. According to local media reports, marquee attractions include such as the Nickelodeon Universe theme park, DreamWorks water park, Angry Birds mini-golf and an NHL-sized ice skating rink are now open under limited capacities. …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentNew JerseyNewsRetailers

Burlington Opens New Store at Somerville Circle Shopping Center in Raritan, New Jersey

by Alex Tostado

Raritan, N.J. — Burlington has opened a new store at Somerville Circle Shopping Center, a 150,000-square-foot property located at the intersection of Routes 202/206 and Route 28 in Raritan, about 45 miles southeast of New York City. Burlington has backfilled a space formerly occupied by Toys ‘R’ Us/Babies ‘R’ Us. Other tenants at the center include Staples, Petco, Jersey Mike’s, Burger King and Five Below. Levin Management Corp. manages the property. The square footage of the store was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company newsNew JerseyNewsPennsylvaniaRestaurants

Papa John’s to Open 49 Stores in Philadelphia, Southern New Jersey by 2028

by Alex Tostado

Louisville, Ky. — Papa John’s International (NASDAQ: PZZA) has signed a store development agreement that will allow the Louisville-based pizza chain to open 49 new stores in the Philadelphia and Southern New Jersey areas between 2021 and 2028. Franchisee HB Restaurant Group, which currently owns and operates 43 Papa John’s locations in the mid-Atlantic, will also own and operate the new stores.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts