November 2023

N ew J ersey S hopping C enters C entral NJ S potlight

M id A tlantic Real Estate Journal — Central New Jersey — November 2023 — 5B

LD BRIDGE TWP., NJ — 2020 Acquisi- tions and Old Bridge The Rose spans 218 acres of land owned by Old Bridge Twp. in Middlesex County 2020 Acquisitions & Old Bridge Township unveil New Jersey's first public golf course in 20 years O

will be online starting April 1, 2024 and discounts are being offered to township residents, active military personnel and seniors. There is a tiered fee structure for New Jersey resi- dents and out-of-state visitors. Designed by New Jersey- based Stephen Kay , whose golf course architecture firm is based in Egg Harbor City, The Rose features a highly unique and custom layout driven by the existence of wetlands and its natural topography. In addition to numerous ponds supporting irrigation and water conserva- tion, another unique component is placement of the 9th hole, which does not return to the clubhouse. Instead, it flows around the 200+-acre property. The Rose also features a 6,000 s/f clubhouse, which houses a pro shop, concession area, cart barn and restrooms; 110 parking spaces; and 5,000 s/f maintenance building. Golf- ers also will have use of electric carts with GPS screens. MAREJ

Township have teamed up to deliver Old Bridge Township Golf Club at Rose-Lambertson (The Rose) – New Jersey’s first public course in 20 years. Constructed on Old Bridge Township property, all plan- ning, design, construction and management of the course has been performed by 2020 Acquisitions, which funded the $15+M community project along with $32+M in public infrastructure improvements at no cost to taxpayers. The privately held commer- cial real estate development and management firm’s in- volvement in constructing The Rose is an extension of the off- tract improvements associated with the Rte. 9 Redevelopment Area in the township, where 2020 Acquisitions is construct- ing Central 9 Logistics Park. Located on Jake Brown Rd., the warehouse/industrial campus TRENTON, NJ — Fennelly Associates , one of New Jersey and Pennsylvania’s most expe- rienced and successful indepen- dent full-service commercial real estate service providers, announces it has negotiated the sale of 240 West State St., a 240,000 s/f office building in Trenton. The buyer plans to redevelop the 16-story prop- erty into a multifamily building planned for completion in 2026. Situated at the intersection of Calhoun St., West State St. and Rte. 29 across from the Cal- houn Bridge, 240 West State St. is one of the tallest build- ings in downtown Trenton. The property is just under two miles from the Trenton Transit Center and the West Trenton Train Station with access to New York City and Philadel- phia was originally constructed as a hotel in 1969. It was most recently utilized as an office building. Aiming to build upon

The view from Old Bridge Golf Club’s 9th-hole green (left) and driving range (right)

will consist of nine buildings and 4.2MSF, being built in three phases. Expected comple- tion for the first phase is 2024. Known as The Rose, the course is a newly constructed public golf center spanning 218 acres of land owned by Old Bridge Township in Middlesex County. Constructed in 2023, The Rose features a champi- onship-caliber par-71, 18-hole

course; an illuminated 30-bay driving range; and a minia- ture golf course with lighting, unique water features and varying terrain. “Old Bridge Township never wavered in their commitment to achieve this objective, it was just a matter of how and when,” said Efrem Gerszberg , sole principal and CEO of 2020 Acquisitions, a privately held attract a buyer interested in the adaptive reuse of the property. The buyer’s plans will in- clude a mix of studio, one and two-bedroom apartments paired with a robust amenity package including a fitness center, pool and ground floor cafe. In addition, the company will renovate the building’s enclosed parking garage. Fennelly Associates presi- dent Jerry Fennelly, SIOR , said, “For decades, we have harnessed our expertise and creativity to bring investments and businesses into Trenton. We were honored to bring the sale of 240 West State St. across the finish line, and we are excited to watch its trans- formation into a point of pride for the local community.” Jerry Fennelly, SIOR, rep- resented the seller Garden State Commercial Prop- erties and the buyer in the transaction. MAREJ

New Jersey-based commercial real estate development and management firm. 2020 Ac- quisitions is also a managing partner in Titan Golf, a golf course holding company. The initial opening of the putting green, driving range and mini golf were followed by a golf course soft opening in mid- October with limited tee-time availabilities. Full tee times

Fennelly Associates handles sale of 240 West State St. in Trenton

Levin adds two new tenants at Brunswick Shopping Center in North Brunswick

Brunswick Shopping Center

and Fred Younkin , leasing representative, negotiated the transactions on behalf of property ownership; Ryan Feldman of Alliance Retail Development represented H&R Block. “Many of our current patrons come from Central NJ, making Brunswick Shopping Center the perfect choice for Kanoon’s growth,” said Bhuri. “Guests can expect the same delicious, high-quality food, warm hos- pitality and great experience that has made our Clifton restaurant so popular. MAREJ ”

NORTH BRUNSWICK, NJ — Two new tenants are coming to Brunswick Shop- ping Center in North Bruns- wick. The latest additions include halal smokehouse Kanoon restaurant (3,250 s/f) and tax preparer H&R Block (1,500 s/f). Levin Management Cor- poration (LMC) serves as leasing and managing agent for the 288,000 s/f proper- ty, located just off Rte. 1 on Milltown Rd. LMC’s V an- essa Fernandez-Kelty , se- nior leasing representative,

240 West State Street

the continued demand for new housing in downtown Trenton, Fennelly Associates worked to

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