10B — February 14 - 27, 2014 — New Jersey — Mid Atlantic Real Estate Journal
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C entral N ew J ersey
Matrix Dev. Group receives approval for 37,000 retail space Matrix Development Group sells fully entitled, 49-Acre Parcel to Toll Brothers
OUTH BRUNSWICK, NJ — Matrix Devel- opment Group , one of the Northeast’s most active and well-regarded real estate investment and development companies, announced the sale of 49 acres of land in South Brunswick to Toll Broth- ers , America’s luxury home builder. Prior to the sale, Matrix sig- nificantly enhanced the value of a portion of its 240 acre land tract, which is located near the intersection of Route 130 and Friendship Road in South Brunswick, by securing the S
per , vice president at Matrix Development Group. “Toll Brothers has been a terrific partner for many years, and Matrix looks forward to de- veloping the remaining land near Friendship Road into a dynamic mixed-use destina- for construction. “We’ve now closed on the property and will be working closely with Belmar officials in the upcoming weeks as our plans undergo municipal re- view,” said Joel Brudner , a principal of MB1 Capital Part-
zoning and land use approvals that will allow Toll Brothers to develop a residential communi- ty of 188 townhomes, complete with a private clubhouse. Both Matrix and Toll Broth- ers were represented in-house in the transaction. Directly adjacent to the Toll Brothers’ residential project, Matrix Development has re- ceived approval for the con- struction of up to 37,000 s/f of retail space along the Route 130 corridor. Matrix is current- ly marketing the site for sale and/or lease. The remaining land is zoned for the develop-
ment of additional commercial uses and single-family homes. “After a lengthy approvals process, we’re pleased to turn over a coveted piece of well- located land to the premier luxury homebuilders in the nation,” said Russell Tep- BELMAR, NJ — The cre- ation of the East Coast Beer Co. microbrewery in Belmar took a giant step forward today, as MB1 Capital Partners pur- chased the former Freedman’s Bakery building and estab- lished an aggressive timeline
tion.” The site affords seamless ac- cess to dining, healthcare ser- vices and retail, and residents will be only a short drive away frompopular cultural hotspots such as Princeton and New Brunswick. n ners, a real estate investment firm that is redeveloping the property. “We are moving along on all facets of the project and are eager to create a landmark in Belmar that will further enhance this great shore town with the brewery as a major attraction.” MB1 will complete the build- ing renovations and lease the majority of the building to East Coast Beer Co., which produces a signature line of craft brews under the well-known “Beach Haus” label. The principals of MB1 Capital Partners have an ownership interest in East Coast. John Merklin, a founder of East Coast Beer Co., said he is eager for workers to begin the conversion from a bakery to the brewery, noting the building will be outfitted with state-of- the art equipment to brew the entire portfolio of beer styles. “Belmar is an iconic Jersey Shore community; this is go- ing to be the perfect fit for an established Jersey Shore beer,” said Merklin, adding the craft brewery will serve as an at- traction to visitors throughout the year and will be a boon for neighboring businesses. n Zuo joins Long & Foster’s Princeton Junction, office PRINCETON JUNCTION, NJ — Long & Foster Real Estate, Inc. welcomes Wen “Rita” Zuo to its Greater Princeton office, in Princeton Junction. Zuo will specialize in working with homebuyers and sellers. “We are very excited and fortunate to have Rita Zuo join our team of highly trained professionals,” said Michael Elliott , manager of the Greater Princeton office. “The combina- tion of Long & Foster and Rita’s unique skills and knowledge will no doubt provide the high- est level of service to local buy- ers and sellers.” Zuo successfully completed Long & Foster’s Star Builders program. n
MB1 Capital Partners acquires former Freedman’s Bakery
DIVERSIFIED RACK & SHELVING, INC.
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