R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined — October 22 - November 18, 2021 — 9A
www.marej.com
Brokerage closes sale of former fitness site; completes leases for Popeye’s and other retail tenants R.J. Brunelli announces property sale and series of new retail leases for sites in NJ & PA
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Wax Center leased an 1,885 s/f space at Manahawkin Commons, a 319,349 s/f center on Rte. 72. Brunelli repre- sented European Wax Center on the lease, while the land- lord was represented by Jim Creed of CBRE . Brunelli also completed two leases for European Wax Cen- ter in northern New Jersey. A fourth quarter 2021 opening is planned for a 1,560 s/f loca- tion at Pompton Lakes Towne Square, 1-55 Wanaque Ave., in Pompton Lakes. Matt Grundy and Curtis Nassau of Ripco represented the landlord on the transaction. In Morris Twp., a second quarter 2022 opening is antici- pated for EuropeanWax Center in a 1,452 s/f space at Morris Marketplace, 191 East Hanover Ave. Bill Lenaz and Stephen Battista of Jeffery Realty represented the landlord on the lease. Danielle Brunelli addition- ally closed her second lease this year as the real estate
representative for the central and southern NJ franchisee of Crumbl Cookies. The multi- unit operator signed for a 1,600 s/f endcap unit in a new pad building at Commerce Center at Garden State Park in Cherry Hill. In Ocean County, the firm signed Pizza Hut for an 1,800 s/f endcap drive-thru space at 1882 Hooper Ave. in Toms River. R.J. Brunelli is the broker for the new 12,600 s/f retail center being developed by March Construction in the municipality’s Silverton section. Mario Brunelli , R.J. Brunelli VP & principal repre- sented the landlord. Sales associate Peter Miller brokered three leases for Lake Lawrence Shopping Center, at 2542 Brunswick Ave. in Lawrence Twp. R.J. Brunelli serves as broker for the 19,319 s/f highway center. Debuting this summer at the Mercer County property were Kayla’s Pretty Paws, a 2,262 s/f pet stylist and supply
store, and Greenhouse Busi- ness Center, a 1,370 s/f shop. They will be followed this fall by Sweet Threads, a 1,778 s/f vape, apparel and CBD prod- ucts shop. Miller represented both the landlord and tenant on the Kayla’s and Sweet Threads transactions. On Greenhouse Business Center, the tenant was represented by Frank Consiglio of Direct Store Services . In Monmouth County, Fiore brokered a 2,780 s/f lease for Middletown Dry Cleaners at the Village Mall, 1140 Rte. 35 South in Middletown. Patri- cia McHugh-Amecangelo of CBRE represented the land- lord on the lease, while Fiore represented the tenant. Fiore also represented the tenant on a 1,500 s/f lease that brought the Puff City smoke/vape shop to Stahl Shopping Plaza, 152 Moun- tainview Blvd. in Wayne. McHugh-Amecangelo of CBRE represented the landlord on the transaction. MAREJ
Commercial Realty . In Philadelphia, R.J. Brunelli senior sales associate Pete
LD BRIDGE, NJ — R.J. Brunelli & Co. , LLC recently
completed a property sale as well as a series of retail l eases that are delivering Popeyes Loui- siana Kitch- en, multiple E u r o p e a n
Ni cho l son signed a lo- c a t i o n f o r Popeyes new, 2,400 s/f free- standing pad bui lding at the Fishtown S h o p p i n g Center, 2427
Ron DeLuca
Alexis Fiori
Wax Centers, Crumbl Cook- ies, Pizza Hut and several independent retailers to sites throughout New Jersey and in Pennsylvania. Acting on behalf of property owner The Racquet Place, LLP, the retail real estate brokerage sold a 3.5-acre site housing the 27,000 s/f former NY Sports Club building in Old Bridge to a private investor. Located at 450 Hwy. 34, R.J. Brunelli CEO& principal Ron DeLuca and sales associate Alexis Fio- ri represented the seller, while the buyer was represented by Eddie Mardakhaev of Key
Aramingo Ave. Nicholson rep- resented Popeyes franchisee PN Restaurants. In NJ, the firm brokered four leases for European Wax Cen- ter in different parts of the state in its capacity as a representa- tive for the franchise chain. In central NJ, president & principal Danielle Brunelli signed the chain for a 1,760 s/f location at East Windsor Village, a 248,727 s/f center at 70 Princeton-Hightstown Rd. John LaParise of CBRE represented the landlord on the transaction. In southern NJ, European
Horvath & Tremblay completes the sale of four properties for $7.661M VIRGINIA AND NEW JERSEY — Kyle Daniel- son, Todd Tremblay and Bob Horvath of Horvath & Tremblay have completed the sale of Chipotle in Salem, VA. Horvath & Tremblay rep- resented the seller to complete the transaction at a sale price of $2.38 million. The Chipotle is located at 1122WMain St. in Salem, VA. The new construc- tion Chipotle consists of a 2,847 s/f building with a Chipotlane (drive thru). Chipotle signed a new 15-year lease with four, five-year renewal options and rent increases of 10% every five years throughout the base term and option periods. The prop- erty is extremely well located at the signalized intersection of W Main St. and Goodwin Ave. The location is part of a dominant trade area centered around the junction of US Hwy. 460 & I-81, with numerous businesses, national tenants and industrial centers drawing significant traffic to the area. Lombardi has completed the sale of Chase Bank in Roxbury, NJ. Horvath & Tremblay rep- resented the seller to complete the transaction at a sale price of $1.71 million. Chase Bank is located at 1250 US Rte. 46. Chase Bank recently exercised their renewal option on their double-net lease and has 5+ years remaining on their lease with one, five-year renewal option remaining. The lease features a 12% rental increase at the start of their remaining option periods. Chase Bank is well located along US Rte. 46 with excellent visibility and access. Horvath & Tremblay’s Kyle Danielson and Justin Spill- ane have completed the sale of Popeyes in Glen Allen, VA. Horvath & Tremblay repre- sented the buyer to complete the transaction at a sale price of $2.621 million. The Popeyes is located at 10213Washington Hwy. The property consists of nearly an acre of land im- proved with an 2,265 s/f build- ing. The newly constructed restaurant has a brand new 20-year lease in place with a highly awarded franchisee cur- rently operating eight Popeyes Louisiana Kitchen restaurants in the Richmond, VA area with above average annual sales across their stores. Danielson also completed the sale of a Bank of America in Petersburg, VA. Horvath & Tremblay represented the sell- er to complete the transaction at a sale price of $950,000. The Bank of America is located at 1963 S Crater Rd. The Bank of America retail branch consists of a 2,200 s/f building with two dedicated drive through lanes on a 0.34-acre parcel. Bank of America has been at this loca- tion since 2000, and recently exercised a five-year renewal option. Bank of America has three, five-year renewal op- tions remaining, each with 15% rental increases. Bank of America is situated as a pad- site to the Walnut Hill Plaza, a Save A Lot anchored shopping center. MAREJ 1122 W Main St. in Salem, VA Chase Bank in Roxbury, NJ
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