S hopping C enters C entral NJ S potlight
M id A tlantic Real Estate Journal — Central New Jersey — August 14 - 27, 2020 — 7B
www.marej.com
Lubin and Golden of JLL, Lissner and Gheriani of CBRE negotiate 187,500 s/f transaction J.G. Petrucci Company, Inc. announce sale of Meister Avenue in Branchburg, New Jersey B
products. Joel Lubin and Brian Golden of JLL represented J.G. Petrucci Company, Inc. in the transaction, and Lollicup was represented by CBRE’s Mindy Lissner and David Gheriani. “We are pleased to have assisted Lollicup with their expansion to this well-located class A building,” said CBRE’s first vice president, David Gheriani. “This is a prime example of a company that is growing due to today's condi- tions, and we are proud to have assisted them in this development project.” 140 Meister Ave. was de- signed by Cerminara Ar- chitect and constructed by J.G. Petrucci’s in-house con- struction firm – Iron Hill ConstructionManagement the “Land Use Rules”), which serve as the zoning overlay for the Fort. FMERA intends to re-re- lease the RFOTP for this this gateway site later this year. “FMERAmaintains that the highest and best use of the site is as a vibrant, pedestrian- friendly development with residential and a combination of commercial, cultural, en- tertainment and retail uses,” said FMERA marketing & development manager Sarah Giberson . Background The redevelopment of Fort Monmouth is a multi-year reinvestment to repurpose the former military installa- tion which served as the US leader in satellite and telecom technology. The primary goal of FMERA’s Reuse and Rede- velopment Plan is to return the Fort to a vibrant environ- ment, create jobs, and catalyze economic growth in each of the three towns and the region. The plan strives to balance de- velopment with the protection and enhancement of natural resources, while also creating
an ecosystem complete with business, culture, and 21st century living. Prior to closure, the Fort had five million s/f of building area. Most of the buildings left behind are targeted for demolition. So far, the reuse and redevelopment has acti- vated one million square-feet of commercial space and over 200 residential units, along with civic and entertainment uses. Twenty parcels have been sold and sixteen parcels are currently under contract, in negotiation, or in the de- velopment pipeline. Several additional RFOTP releases are planned, including the McAfee Center, intended for technolo- gy and other commercial uses, and the 400 Area, an approxi- mately 80-acre parcel slated for a mixed-use development. FMERA is an independent state authority established to oversee the redevelopment of the site and the implementa- tion of the Fort’s Reuse Plan, which envisions specific re- investment that aligns with each community’s economic development goals. MAREJ Company . Since 2000, Lollicup has provided its customers and partners with all of the essen- tial products needed to operate a business with ease. Lollicup acts as a one-stop-shop for food-service, hospitality, and many other lucrative indus- tries. The company offers cus- tomers a wide selection of food and beverage products-from disposables to consumables as well as cleaning products and sanitation supplies. Lollicup has solidified stra- tegic partnerships with top food-service brands, allowing it to serve as a master distribu- tor of many excellent products from these brands. Addition- ally, Lollicup manufactures its own brands of disposables, consumables, and cleaning chemicals. MAREJ
EATONTOWN, NJ — The Fort Monmouth Economic Revitalization Authority (FMERA) plans to release a key parcel through its public bidding process in the coming weeks. The 80 + acre site, also known as Parcel B, is located at Fort Monmouth’s Rte. 35 entrance in Eatontown. This gateway project is slated for a medium-density, mixed-use project with residential and commercial uses. “The revised Request for Of- fers to Purchase (RFOTP) for this parcel was drafted with the Fort Monmouth Reuse and Redevelopment Plan’s (Reuse Plan’s) vision in mind,” said FMERA executive director Bruce Steadman . “However, as a result of the implications of recent market shifts, spe- cifically in retail, we expect to be more flexible on the mix of commercial uses permitted. All bidders will be required to construct 302 residential units as a part of the project.” According to Steadman, FMERA still strives to rede- velop this parcel as a transfor- mative project with amenities RANCHBURG, NJ — J.G. Petrucci Com- pany Inc. , one of the region’s leading development and design/build construction firms, recently announced the sale of 140 Meister Ave. in Branchburg to Lollicup USA, Inc. A manufacturer and distributor of hospitality and food-service products. Lol- licup USA Inc.’s new 187,500 s/f class A industrial building will provide distribution and office space. “It’s the newest and larg- est industrial building in the town, and we have already started shipping from this location,” said Lollicup’s CEO, Alan Yu. “Lollicup is proud to have added over 100 new hires nationwide since June 15, as we are an essential company.” Situated on 18.4 acres, the
140 Meister Ave.
recently completed build-to- suit facility features 31 fully equipped loading docks, two drive-in doors, 36’ clear height, and ample trailer and vehicle parking. The new location in Branchburg provides supe-
rior access to major highways, including Rte. 22, I-287, and 78, and is 45 miles West of New York City. The strategic location will support Lolli- cup’s growth while facilitat- ing further demand for their
FMERA to release key 80+ acre parcel at Fort Monmouth for purchase located at Rte. 35 entrance in Eatontown
Parcel B aerial
that encourage activation of public space for activities like walking and gathering in public plazas and outdoor seating areas. With the delivery of goods and services having changed dramatically over the past 10 years, FMERA is eager to re-envision the project in way that leverages new and unique approaches to mixed- use development and maxi- mizes the economic impact to the surrounding communi-
ties. By targeting a broader mix of commercial uses and small-scale, complementary retail amenities, the project is poised for success as a hub for business and community engagement. Redevelopment of the prop- erty will be subject to the Reuse Plan, which operates as the master plan for Fort Mon- mouth, and FMERA’s land use regulations and design and development guidelines (N.J.A.C. 19:31C-3.1 et seq.,
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