16A — January 2026 — Retail Development — M id A tlantic Real Estate Journal
www.marej.com
R etail D evelopment
Total $13,367,257 in Maryland, Virginia & North Carolina Horvath & Tremblay sells 3 Mid-Atlantic retail props.
Along Route 1 in North Brunswick, NJ JLL inks leasehold sale of 147,000 s/f shopping center
Kyle Danielson
Austin Smith
The Shoppes at North Brunswick
Rte. 1 at the intersection with NJ Rte. 130, which combined see approximately 100,000 ve- hicles per day. This prime loca- tion offers excellent visibility and accessibility to major trans- portation arteries including the NJ Tpke/I-95 and Garden State Parkway. The property is located less than five minutes from the Rutgers-New Bruns - wick campus and is surrounded by established retail centers including North Brunswick Plaza anchored by Walmart, Burlington and Macy’s. The nearly 147,000 s/f shop- ping center was built in 2007 and spans 15.8 acres with 42 retail stores and five small office tenants across three buildings. MAREJ
NORTH BRUNSWICK TOWNSHIP, NJ — JLL Cap- ital Markets has facilitated the leasehold sale of The Shop- pes at North Brunswick, a high-performing lifestyle shopping center located in North Brunswick Twp. JLL represented the seller, Shoppes at North Brunswick, L.L.C., an affiliate of The Azar- ian Group, L.L.C. The buyer was a local private investor. JLL Capital Market’s In- vestment Sales and Advisory team was led by senior manag- ing directors Jose Cruz and Kevin O’Hearn and senior director J.B. Bruno . The Shoppes at North Bruns - wick is strategically positioned at 650 Shoppes Blvd. along NJ
Royal Farms in Laurel, MD
Bob Horvath
Todd Tremblay
M
ID-ATLANTIC — Kyle Danielson and Austin Smith
of Horvath & Tremblay have completed the sale of Royal Farms in Laurel, MD. Horvath & Tremblay represented the seller and sourced the buyer to complete the transaction at a sale price of $4,867,257. Royal Farms is located at 6901 Van Dusen Rd. in Laurel. The gas station and convenience store was constructed in 2019 and has 13+ years remaining on its Ab- solute NNN ground lease with four, five-year renewal options. The lease calls for an attractive 10% rent increase every five years throughout the primary lease term and at the start of all four five-year renewal options. Royal Farms is located adja- cent to the signalized intersec- tion of Konterra Dr. and Van Dusen Rd. The property enjoys outstanding frontage, visibil- ity, and access and is 0.4 miles from I-95 and 1.5 miles from US Rte. 1, the area’s primary commercial corridor. Royal Farms is adjacent to Avalon Laurel, a 344-unit Class A apartment commu- nity, and is across from a larger development that is home to Starbucks, Chipotle, Wawa, and Duvall Westside, a 484-unit class A apart- ment community. The prop- erty is surrounded by large apartment communities and densely populated residential neighborhoods that provide a captive customer base and enjoys convenient access to the area hospital, several large business and technology cam- puses, and a large industrial park, all of which drive traffic to the immediate area. Danielson and Smith also facilitated the sale of a Shake Shack in Newport News, VA. Horvath & Tremblay repre- sented the seller to complete
Shake Shack in Newport News, VA
Planned conversion into Swim School NAIDB brokers $2.215M sale of Westfield, NJ off. building
Sheetz in Sanford, NC
the transaction at a sale price of $3,400,000. Shake Shack is located at 12103 Jefferson Ave. in Newport News. The free-standing single-tenant Shake Shack consists of a 3,000 s/f building on a 0.81- acre corner parcel of land. Shake Shack has 9+ years remaining on their lease with four, five-year renewal options. The lease calls for attractive 10% increases every five years throughout the primary lease term and at the start of each renewal option. Shake Shack is located at the signalized intersection of Oyster Point Rd. (VA Rte. 171) and Jefferson Ave. (VA Rte. 143), one of the area’s primary retail corridors. The property enjoys outstanding visibility, frontage, and access and is part of a dominant trade area that is home to countless national retailers and restaurants, the Patrick Henry Mall, Riverside Regional Medical Center (Hos- pital), Newport News/Williams- burg International Airport, and major roadways including US Rtes. 17 and 60 and I-64, all of which drive traffic to the area. Kyle Danielson, Bob Hor- vath and Todd Tremblay
of Horvath & Tremblay have successfully completed the sale of a Sheetz in Sanford, NC. Horvath & Tremblay repre- sented the seller to complete the transaction at a sale price of $5,100,000. Sheetz is located at 2304 Jefferson Davis Highway in Sanford. The new construc- tion gas station and convenience store opened in January of 2025. Sheetz has a 15-year Absolute NNN ground lease with seven, five-year renewal options. The lease calls for 10% rent increas- es every five years throughout the primary lease term and at the start of each of the five-year renewal options. Sheetz is located at the signal- ized intersection of Jefferson Davis Highway (US Highway 1/501) and Center Church/ Tramway Rd. (NC Rte. 78), the area’s primary commercial and commuter corridors. The property enjoys outstanding frontage, visibility, and access and sits at the center of a newly developed commercial cluster. Sheetz shares the intersec- tion with Walgreens, CVS, several new construction QSRs, and Tramway Cross- ing, a Food Lion-anchored shopping center. MAREJ
325 North Ave. East in Westfield
a high-density professional services neighborhood. An- other notable factor about this property is the on-site car parking for accessibility and convenience – especially valuable in Westfield – with more than 20 spaces available. Richard Goski spoke to the asset’s strategic positioning. “This is one of the most de- sirable locations in the area, offering incredible brand ex- posure,” he said. “Critically, it provides exceptional access to Downtown Westfield, a re - nowned regional destination for high-end shopping, dining and lifestyle services. This positioning enhances the value for any business, providing convenience and a premier environment for employees and clients alike.” MAREJ
WESTFIELD, NJ — In a sale demonstrating endur- ing demand for indoor swim schools, NAI DiLeo-Bram & Co. (NAIDB) has arranged the $2.215M sale of a high-visibili- ty, standalone 9,700 s/f building located at 325 North Ave. East in Westfield. The NAIDB team of principal Robert J. DiLeo ; vice president Richard Goski ; and assistant vice president Catherine Goski-Vasquez , represented the seller, True North Avenue East LLC. The purchaser, 25 Taylor Holding LLC, plans to establish its new- est Swim Quest instructional facility, slated to open in early 2026 on the site. The location was a key draw, offering excellent visibility on a thoroughfare with a 16,000 vehicle-count per day within
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