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Mid Atlantic Real Estate Journal — New Jersey — February 8 - 21, 2013 — B
www.marejournal.com
ew Brunswick, NJ — Bussel Re- alty Corp. (BRC) , Lapides represents the owner, Don Gatarz in transaction Bussel Realty Corp. brokers sale of 475 Jersey Avenue in New Brunswick totaling $4.6 million N
a leading industrial real estate services firm in New Jersey, today announced it has brokered the sale of 475 Jersey Avenue, a 185,000 s/f multi-tenanted industrial facility. The property was sold for $4.6 million to an un- disclosed buyer. Senior vice president Earl Lapides of BRC represented the owner, Don Gatarz in the transac- tion. “As a fully-occupied, func- tional industrial facility, 475 Jersey Avenue was an ideal investment for this buyer who was seeking an equity presence in the lucra- tive New Jersey industrial market,” commented Earl. “We are delighted to have arranged this sale on behalf OLD BRIDGE, NJ —Con- struction and leasing are now under way on Woodhaven Plaza, a new neighborhood shopping center on Texas Road in Old Bridge, just east of Spotswood-Englishtown Road (CR 527) and approxi- mately one mile from Monroe Township. Old Bridge-based R.J. Brunelli & Co., LLC serves as leasing agent for the cen- ter, which will ultimately contain over 118,000 s/f of space divided between four buildings. The property will serve as the retail compo- nent of Woodhaven Village, a planned residential commu- nity that already contains a mix of over 350 single-family detached homes, townhouses and apartments, as well as recreational areas. Both the retail and residential areas are being developed by Atlan- tic Realty, which plans to build approximately 1,600 homes on the 1,454-acre site. “As the largest retail center
475 Jersey Avenue
of our client and know the property represents an out- standing investment for our
buyer.” Sitting on 14 acres of land, 475 JerseyAve. offers building
features such as high ceil- ings, dry sprinklers, 8 bridge cranes, heavy power, rail ser-
vice off of a Conrail main rail line as well as 8 tailboards and 6 drive-in doors. n
R.J. Brunelli & Co. announces that construction is underway on Woodhaven Plaza in Old Bridge
A new neighborhood shopping center on Texas Road in Old Bridge
with an average household income of $124,000 within a three-mile radius and more than 140,000 people with an average household income exceeding $128,000 within a five-mile radius. Leases are currently out for review with a fast food chain, liquor store, hair salon, day- care center and martial arts studio. Yaged noted that other uses being targeted for the site include a small-scale super- market, fitness center, dollar store, bank, dry cleaners and
an independent pharmacy. “In particular, we believe this site offers great potential for a small-scale supermarket. To do a major food shopping, residents of this section of Old Bridge and northern Monroe currently have to travel ap- proximately 3.3 to 4.7 miles to supermarkets along Route 9 in Old Bridge andMarlboro,” he explained. Initial spaces inWoodhaven Plaza are expected to be ready for delivery to tenants in the summer of 2013. n
in the immediate vicinity, Woodhaven Plaza will not only fulfill day-to-day shopping and service needs of existing and future residents of Woodhaven Village, but is also within min- utes of affluent developments in Monroe Township, a fast- growing municipality where restrictive zoning has severely
limited retail development,” said Marty Yaged , sales as- sociate at R.J. Brunelli. “This represents a great opportu- nity for retailers and services looking to capitalize on an under-served local market.” All told, the property will draw from a population of ap- proximately 38,000 residents
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