A.J. Richard is the parent company of Farmingdale, NY-basedelectronics retailer P.C. Richard's, and the company's plans forthe site call for a combination of 413,000 sf of new andredeveloped space. Most of that space, more than 300,000 sf,involves the acquisition of an existing light industrial buildingfrom its local ownership and its conversion into W/D and officespace for the company's regional operations.

Other plans for the site, located a couple of miles from Exit 12of the Turnpike and near a new, two-year-old Radisson Hotel, alsocall for a 30,000-sf warehouse addition and a new 20,000-sf officebuilding. The centerpiece of the project will be a 33,000-sf P.C.Richard Super Center retail store that will directly front theTurnpike off Minue St., currently slated to open in the fall2010.

"This investment and the signing of this major redevelopmentagreement is the result of months of negotiations," says Reiman, ina statement. "This is just the start of some major commercialredevelopment for Carteret."