6 — May 2025 — Central New Jersey — M id A tlantic Real Estate Journal
www.marej.com
C entral N ew J ersey
TFE Properties acquires The Shops at Brick in PA
Redevelopment of 30.6 acre I-287 site in progress Woodmont & an insurance co. recap. & acquire 30-acre site
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RANKLIN TOWNSHIP, NJ — Woodmont Indus- trial Partners (Wood-
mont) and a major US- based insur- ance company have formed a strategic joint venture part- nership to recapitalize and acquire
The Shops at Brick
Anthony Amadeo
roadways while being within walking distance for many people will be important fac- tors for future tenants.” This is TFE Properties’ fifth property they have added to their expansive portfolio in Brick. “There’s a reason we keep coming back to Brick,” Tajfel said. “It’s a town that is continuously growing and evolving. It’s exciting to be a part of.” Other Brick developments include Starbucks, Fortunoff Plaza, Boulevard at Brick apartment community, all along Brick Boulevard, and a medical/professional office building off along Chambers Bridge Rd. The Shops at Brick is located 3.5 miles from Exit 88 off the Garden State Parkway, and it offers easy access from Rte. 70 (40,000 VPD) and Van Zile Rd. (23,000 VPD). Kevin O’Hearn and Jo- seph Lopresti of JLL Capi- tal Markets represented the seller and buyer, an affiliate of TFE Properties. MAREJ
BRICK TOWNSHIP, NJ — TFE Properties announced the purchase of The Shops at Brick, a 103,832 s/f shopping center located in Brick. The plaza includes Bonefish Grill and McDonalds as anchor tenants with several spaces available for lease including anchor and junior anchor space opportunities. Located between Rte. 70 and Van Zile Rd., The Shops at Brick offer an abundance of on- site parking, excellent visibility and access, and is located with- in walking distance to 4,000 people. “We’re excited about this addition to our portfolio,” said Carey Tajfel , president of TFE Properties. “The Shops at Brick is in the heart of Brick Twp., a strong community with high income levels and great demographics. We also plan to renovate the façade to give it a fresh clean modern appear- ance to help the center reach its full potential and align with our high company stan- dards. That, combined with its prime location off two major
400 Atrium Dr., a prime 30.6- acre industrial asset in Franklin Twp. Located on a premium development tract along the New Jersey Tpke., this deal and subsequent redevelopment rep- resents the first collaboration for the partnership. The expansive complex at 400 Atrium Dr. will fea- ture over 370,000 s/f of class A warehouse space spread across two facilities in a highly desired industrial submarket. The site will feature ample surface parking spaces for cars and trailers. Building One will be 255,000 s/f and will offer a 40’ clear height, 44 loading docks and two drive-in doors. The second, a 115,000 s/f building, will feature a 36’ clear height, 34 loading docks and two drive-in doors. “Atrium Dr. illustrates Woodmont’s commitment to delivering high-quality indus- trial space in one of the North- east’s most sought after mar- kets,” said Anthony Amadeo , executive vice president of Woodmont. “With limited new supply expected through 2026, this strategic redevelopment is well-suited for long-term
Woodmont Industrial Partners ©
400 Atrium Dr.
success. We’re pleased to com- mence our new partnership with this redevelopment that will be in strong demand upon completion. We are confident that the site’s access and con- nectivity to key ports and dis- tribution networks, efficiency and modern facilities will lead to success.” Located in the I-287/Exit 10 submarket, which saw over 2.8 million s/f of leasing activity last year, 400 Atrium Dr. affords convenient access to I-287 and the New Jersey Tpke., as well as Newark Airport, the Port of Newark and the New York City met- ropolitan area. The property is neighbored by Amazon, Nissan North America, PIM Brands, Veritiv and CRST, among oth- ers, and marks the insurance company’s first establishment in this notable submarket. John Alascio and Chuck Kohaut of Cushman & Wakefield coordinated the debt with New York Life . Over the past year, Wood- mont has executed numerous
transactions, groundbreak- ings, completions and lease- ups in some of the country’s most active industrial growth markets. Most recently, Wood- mont completed the sale of a 30-acre industrial site and a proposed 353,830 s/f ware - house in Raritan, and fully leased a 30,046 s/f Meadow - lands warehouse and distribu- tion facility at 2 Terminal Rd. in Lyndhurst. Additionally, Woodmont is redeveloping a 224,000 s/f distribution center in Al- lentown, PA, to be delivered in Q2 2025. The company is also under construction of a 450,000 s/f warehouse facil- ity in Warren County, NJ, in partnership with Brookfield Properties, and an 84,000 s/f facility in Pompano, FL, with Butters Construction & Development . Throughout the US, Woodmont has ap- proximately 7.5 million s/fof industrial space in its active pipeline, available for occu- pancy, development and/or renovation. MAREJ warranties for completed proj- ects and oversees smaller-scale construction initiatives for new clients. As the primary point of contact for these clients, he ensures consistent communica- tion and delivers timely solu- tions when new developments arise. Joe also manages prop- erties for REDCOM’s owner, Greg J. Redington . Before joining REDCOM, Orsita spent 11 years as a facilities manager at Verizon and worked as a project manager at Installa- tion Concepts, Inc. Joe holds an MBA from Centenary Univer- sity and is certified in OSHA-10 and OSHA-30. Outside of work, he enjoys skiing, fishing, play - ing guitar, and participating in recreational sports like flag football and basketball. MAREJ
Metz Industrial Group of Bussel Realty Corp. leases IOS site
WESTFIELD, NJ — RED- COM announced that Joe Orsita , manager of special REDCOM design & construction manager appointed to BOD impact in the community aligns perfectly with the values we uphold at REDCOM. I’m confi - dent he will bring tremendous energy and valuable insight to the United Way’s mission.”
projects, has been selected to be on the Board of Di- rectors for United Way of Great- er Union Co un t y . Joe’s com-
Reflecting on the opportu- nity, Orsita shared, “I really resonate with United Way and the work they do for the com- munity. I didn’t have the easi- est upbringing and knowing there are people and programs dedicated to helping others locally means a lot to me. I’m excited to be a part of that. It’s also an honor to work alongside Julienne Cherry , the CEO, whose determination to effect meaningful change in our com- munity is truly inspiring.” Orsita plays a vital role at REDCOM, where he manages
Joe Orsita
1925 Fourth Str. in North Brunswick
mitment to service and his passion for community devel- opment make him an ideal rep- resentative for this initiative. “Joe’s leadership, dedication, and passion for giving back make him an excellent choice for this role,” said Ryan Teicher , CEO at REDCOM. “His com- mitment to making a positive
Jordan Metz , senior vice president, Benito Abbate , se- nior associate, and James Fri- el , sales associate, of the Metz Industrial Group of BRC rep- resented the landlord, Omni Group , in the transaction. The tenant was represented by Weichert Realtors . MAREJ
NORTH BRUNSWICK, NJ — The Metz Industrial Group (MIG) of Bussel Re- alty Corp. (BRC) , recently leased 0.8 acres of IOS space with a 1,600 s/f industrial building to Riverview Compa- nies of NJ at 1925 Fourth Str. in North Brunswick.
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