38 — August 2025 — M id A tlantic Real Estate Journal
www.marej.com
M id A tlantic R eal E state J ournal
Moawad of LMC secures Burlington store lease
Power Broker Quarterly Deals winner for Q2 in NNJ Tyler Bennett of BR&D wins CoStar Group’s Q2 2025 award
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commercial real estate infor- mation, analytics, and online marketplaces, identifies the top CRE transactions each quarter based on deal value and square footage. Tyler’s award-winning transaction reinforces his standing as a key leader in the region and the broader commercial real estate industry. “I am honored to be recog- nized by CoStar alongside such accomplished profes- sionals as a 2025 #CoStar- PowerBroker Quarterly Deals winner for closing a top #CRE transaction in Q2,” said Tyler Bennett. “This award reflects the
incredible momentum we’ve built this year and is a testa- ment to the hard work of the entire BR&D team. At Bennett Realty & Development, deliv- ering value for our clients isn’t just a goal—it’s our standard.” In addition to this presti- gious recognition, Bennett Re- alty & Development continues to demonstrate strong leasing and sales activity in the first half of 2025, with high-profile transactions across multiple states. The firm’s continued growth underscores its repu- tation as a results-driven partner in retail leasing, in- vestment sales, and tenant representation. MAREJ
OLMDEL, NJ — Bennett Realty & Development
(BR&D) , a full-service commercial real estate a d v i s o r y firm, an- nounced that founder and CEO Tyler Benne t t
Burlington Stores at St. Georges Crossing
Tyler Bennett
of a portfolio within a defined submarket. Clustering assets geographically enables resource sharing across locations, includ- ing maintenance teams, leas- ing strategies, and marketing efforts. This not only improves operational efficiency and drives down costs but also builds brand presence within a market. Conclusion Small-bay industrial as- sets may not dominate head- lines like big-box logistics, but they’re essential infrastructure for the economy. And in a mar- ket environment where cap rate compression is no longer a given, yield must be earned through thoughtful execution. At Lucern Capital Partners, we specialize in turning under- performing small-bay industrial properties into high-performing assets. By combining strategic acquisition, hands-on manage- ment, and a focus on tenant alignment, we tap into the un- realized value of small bay real estate. Reach out to a member of our team to learn more about our investment approach. David Hansel is a man- aging member of Lucern Capital Partners. MAREJ at the high-traffic intersection of Rte. 1 & 9 and Rte. 35. LMC senior leasing representative E.J. Moawad spearheaded the Burlington lease on be- half of the landlord. Clifford Simon of CNS Real Estate represented the tenant. “The discount retail seg- ment continues to thrive, and Burlington’s expansion is a testament to that strength,” said Moawad. “Over several years, our team has focused on elevating St. Georges Cross- ing’s appeal, and Burlington – a category-leading, traffic- generating brand – aligns perfectly with that vision. The energy at St. Georges Crossing continues to build, and we’re proud of how far the center has come.” MAREJ
WOODBRIDGE, NJ — Burlington Stores is joining the tenant lineup at St. Georges
has been recognized by Co- Star Group, Inc. as a 2025 Power Broker Quarterly Deals winner for Q2 in Northern New Jersey. CoStar Group, one of the industry’s leading providers of
Crossing in Woodbridge, bringing the 343,000 s/f power cen- ter to full occupancy, announced Levin Man- agement
CrownPoint Group & Lamar Cos. complete $Multi-Million storage development in Newark
E.J. Moawad
NEWARK, NJ — A joint venture between Parsippany- based commercial real estate firm CrownPoint Group (CPG) and the Lamar Com- panies has completed the first institutional-quality self-stor- age facility in the Ironbound section of Newark. The joint venture delivers a brand-new, six-story self-storage facility at 305 Wilson Ave. with more than 1,200 units in the state’s largest city and New Jersey’s largest employment center. CPG and Lamar’s latest project, which will provide over 135,000 s/f of climate-con- trolled space, has opened and commenced leasing. The proj- ect is located at the corner of Ave. L and Wilson Ave., with direct access to US Rtes. 1 and 9, providing unparalleled proximity to the region’s high- population-density neighbor- hoods and surrounding areas. EAST RUTHERFORD, NJ — Lincoln Equities Group (LEG) as seen a flurry of recent leasing activity at its Princeton Forrestal Village property—a 550,000 s/f class A mixed-use campus with 11 buildings in the Princeton market. New tenants at Princeton Forrestal Village include: • Bayada Home Health Care, which signed a 2,060 s/f lease at 116 Village Boulevard • BPJ Holding Corporation, which signed a 4,200 s/f lease at 116 Village Boulevard, • Pulte Homes, which will open a 2,800-s/f design center at 107 Main Street • Use Ready, which signed
Corporation (LMC) . Bur- lington is the latest move toward modernizing and di- versifying the mix of national brands at the ShopRite-an- chored property, with further enhancements on the horizon. LMC serves as leasing and managing agent for St. Georg- es Crossing, which is located
How to unlock yield in under- performing small bay assets . . . continued from page 2
305 Wilson Ave.
not liabilities. They provide a natural inflection point to bring rents up to market and reevaluate the tenant mix. Re-tenanting, when done strategically, is less about cy- cling through occupancy and more about positioning the as- set for its highest and best use. 3 | Upgrade Property Management Property management in the small-bay sector is fre- quently handled by legacy owners who often lack the operational depth to drive real performance. For insti- tutional-minded investors, this presents another area for value creation. Bringing property manage- ment in-house ensures greater control, consistency, and ac- countability. Centralized op- erations also allow for more accurate CAM reconciliation, faster response times to ten- ant service requests, and more disciplined budgeting. 4 | Think in Clusters, Not One-Off Small-bay assets are most effective when managed not as one-off buildings, but as part
A report from the Iron- bound Community Corpora- tion stated that the neighbor- hood, which encompasses four square miles, drives 40% of the city’s economy and 33% of its tax base. The neighbor- hood is bound by Newark Penn Station, US Rtes. 1 and 9, and the New Jersey Tpke., Since its inception in 2013, CrownPoint Group has sourced, entitled and devel- oped over 2.5 million square feet of self-storage space with an aggregate value exceeding $500 million. MAREJ LEG inks five new leases at Princeton Forrestal Village and serves as a gateway to Middlesex, Union, Bergen, and Essex counties.
Atyeti, Touch Associates and more – totaling over 50,000 s/f. This leasing momentum follows a series of recent capi- tal improvements aimed at enhancing the tenant experi- ence. A major renovation of the property’s food court was recently completed, and a new conference and training room providing a valuable shared amenity for all Princeton For- restal Village tenants. Comprised of eight build- ings, the property features three full-service restaurants. Additional property amenities include several outdoor ter- races, and on-site childcare at Harmony School. MAREJ
Princeton Forrestal Village a 1,881 s/f lease at 155 Village Boulevard. • Anasen Health which signed a 4,700 s/f lease at 120 Main Street. Additionally, the campus has seen multiple lease re- newals from existing tenants like Regus, Surgical Center,
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