8C — November 27 - December 10, 2015 — Shopping Centers — M id A tlantic
Real Estate Journal
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The Yard @ College Avenue to include 14,000 s/f of retail, student housing and a park DEVCO & Pierson Comm’l announce tenants for Rutgers College Avenue redevelopment N
selected a unique tenant mix that we felt would be attrac- tive to the Rutgers University students, staff, faculty, and the broader community. The project is situated at main- and-main at the Rutgers Campus, which is the one of largest and oldest universities in New Jersey.” The Yard @ College Av- enue will be a state-of-the-art mixed-use complex includ- ing approximately 14,000 s/f of retail, housing for 550 students and an interactive open-pavilion park consisting of a 350 s/f LED monitor that will permit patrons to watch live sporting events, concerts, movies and other program- ming in an open-air setting. “We are thrilled to have these businesses join this transformational project and further showcase New Bruns- wick as one of America’s most exciting college towns,” said Christopher Paladino , president of Devco. “This project, combined with Rut- gers’ entrance into the Big Ten Conference, is placing the University among the top tier academic institutions nationwide.” The College Avenue Re- development Initiative also includes a new Residential Honors College, which is now open to this year’s class of incoming students, and a new University Academic Build- ing which will be completed in August of 2016. Devco completed and opened a new building for the New Bruns- wick Theological Seminary in September 2014 as the first phase of the initiative. The Yard @ College Av- enue’s seven retail tenants to date: Starbucks Coffee will operate a 2,096 s/f free stand- ing café; honeygrow will occupy a 2,311 s/f corner space. Doug- las Green , principal from MSC Retail , represented the tenant; Bella’s Burger Shack will occupy a 1,705 s/f space adja- cent to Krispy Pizza; RU Hungry – The original grease truck will occupy a 1,062 s/f location; House of Cupcakes will lease a 677 s/f space; Jersey Mike’s Subs —Their opening week’s sales will be donated to a local charity.; Krispy Pizza will occupy a 1,265 s/f corner adjacent to the busiest bus stop on the Rutgers Campus. n
gers campus. The seven new tenants include: Starbucks, honeygrow, Bella’s Burger Shack, RU Hungry, House of Cupcakes, Jersey Mike’s Subs and Krispy Pizza. The Yard @ College Avenue project is currently under construction and is anticipated to open in August of 2016. “We are extremely excited with obtaining these best-in- class tenants for our high- profile project,” said Jason Pierson , president of Pierson Commercial. “Pierson, in partnership with DEVCO, meticulously solicited and
EW BRUNSWICK, NJ — Pierson Com- mercial , a market leading New Jersey com- mercial retail real estate pro- vider, and New Brunswick Development Corporation (DEVCO) , a non-profit pub- lic/private real estate develop- ment firm, announced the ex- ecution of seven leases within The Yard @ College Avenue, one of the College Avenue Redevelopment Initiative Projects, a $300 million devel- opment project transforming approximately ten acres of land in the heart of the Rut-
The Yard @ College Avenue rendering
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