10A — June 24 - July 14, 2016 — Shopping Centers — M id A tlantic

Real Estate Journal


S hopping C enters 2,400 acre mixed-use dev. will include 500,000 s/f retail and 2,000 residential units Shop-Rite to anchor retail component at The Oaks at Glenwood in Old Bridge, NJ O LD BRIDGE, NJ — The Brunetti Or- ganization , a real

announcement of the Shop- Rite lease is expected to spur finalization of lease negotia- tions with several additional well-known retail tenants. When completed, the de- velopment will feature 2,000 residential units and over 500,000 s/f of retail space. A prime retail site located at the corner of Rte. 9 South and Schulmeister Rd., The Oaks at Glenwood features convenient access to both the NJ Turnpike and Garden State Parkway, and currently boasts a traffic count of over 68,000 cars daily. With over 1,200 feet of highway front-

age and easy access to the site, as well as a NJ Transit park-and-ride bus facility nearby, the site is certain to be a winner with both retail- ers and the upscale, mobile demographic that will be attracted to the residential units. Having already completed a substantial amount of the site work and infrastructure improvements at the site, The Brunetti Organization is poised to commence con- struction upon completion of the connection of utilities. Brunetti is currently offering pad sites and junior anchor positions in addition to strip locations for lease at The Oaks at Glenwood, and the organization reports that sub- stantial interest has already been generated from several nationally-known retailers and restaurant chains. Old Bridge township is lo- cated in Middlesex County, New Jersey. It is 35 miles southwest of New York City, directly off The Garden State Parkway, one of the region’s major arteries. The Town- ship is highly accessible via I-287, Rtes. 34, 35, 18, and 1 & 9, and The New Jersey Turnpike. “We have been receiving a tremendous amount of interest from a wide rage if retailers in a variety of categories,” said John Bru- netti, Jr. , vice president of The Brunetti Organization. “Old Bridge is known as one of Central New Jersey’s pre- mier communities, but it is currently underserved from a retail standpoint. Everything points to success for retail- ers who choose The Oaks at Glenwood.” “We a r e par t i cu l ar l y pleased to make this an- nouncement as the Inter- national Council of Shop- ping Centers (ICSC) RE- Con show is opening in Las Vegas,” said Brunetti. The Goldstein Group of Paramus, NJ is the leasing agent for the retail portion of The Oaks at Glenwood. President Chuck Lanyard , vice president Mark Hand- werker , and principal Neil Goldstein , are representing the property on behalf of The Brunetti Organization. Con- struction management and consulting services are being provided by John Potter and Hal Dodt of Equitas Man- agement Group . n

estate developer in both Cen- tral New Jersey and South Florida, has announced that Shop-Rite has signed on as the anchor retail tenant at their soon-to-be-developed 2,400-acre mixed-use town center development, The Oaks at Glenwood, in Old Bridge, NJ. Construction on the 90,000 s/f grocery super center is set to begin almost immediately, with occupancy of the Shop-Rite and other retail tenants scheduled for the Summer of 2017. The



Today’s complex real estate market is more demanding than ever. We combine experience, creativity and business acumen to skillfully navigate clients through a multitude of real estate and regulatory issues.

West Orange, NJ | New York, NY | Trenton, NJ | csglaw.com

Made with FlippingBook - Online catalogs