R.J. Brunelli & Co. Reveals NJ Retail Leasing Activity
The New Jersey-based brokerage has recently experienced an increase in retail lease transactions, as tenants seek relocation from malls to open-air spaces.
OLD BRIDGE, NJ – R.J. Brunelli & Co. LLC has disclosed its recent leasing activity for sites throughout New Jersey, amid the on-going pandemic.
The Old Bridge-based retail brokerage has completed leases with Dollar Tree, Chipotle, European Wax Center and a local dance studio.
As Dollar Tree’s exclusive New Jersey leasing representative, the firm completed five leases for the chain in Northern and Southern regions of the state, including a 12,130-square-foot endcap unit at Roxbury Mall on Rte. 10 in Succasunna; a 10,500-square-foot freestanding property at 1187 Teaneck Rd. in Teaneck, which is expected to open this Fall; a 9,093-square-foot endcap space in Lakeview Shopping Center at 64 Lakeview Ave. in Clifton; a 12,680-square-foot inline space at Echo Plaza on Rte. 22 and Mountain Ave in Union County; and a lease renewal and 4,600-square-foot expansion at Westmont Plaza at Cuthbert Blvd. and MacArthur Blvd. in Haddon Township.
The retail brokerage firm’s president, R.J. Brunelli and principal, Danielle Brunelli represented Dollar Tree in each of its transactions.
Danielle Brunelli separately represented the landlord in leasing a 3,147-square-foot freestanding restaurant located at 2199 74th St. in North Bergen, to Chipotle. Chipotle is projected to open in the space in Q4. Newmark Knight Frank’s Glenn Beyer represented Chipotle in the transaction.
R.J. Brunelli & Co. sales associate, Alexis Fiore represented both the landlord and tenant in a lease transaction, bringing Movement Dance Studio LLC to a 2,836-square-foot space at 2695 Rte. 516 in Old Bridge. The dance studio is expected to open next month in the space.
Danielle Brunelli exclusively represented both the landlord and tenant, European Wax Center, in a lease transaction; securing 1,550 square feet at Manalapan EpiCentre, located at the intersection of Rte. 9 S. and Symmes Dr. in central New Jersey.
Additionally, Danielle Brunelli completed a temporary 37,951-square-foot lease for Spirit Halloween at the ITC Center at 1-50 International Dr. S. in Mt. Olive.
Regarding this deal, Danielle Brunelli states, “Notably, the retailer chose to move forward with the larger footprint of the property’s former 37,951-square-foot Babies R Us, over the former Pier 1 space, which is 10,484 square feet, to make sure that they could provide the room necessary for proper social distancing for their customers.”
R.J. Brunelli & Co. currently has numerous lease deals nearing completion throughout New Jersey.
“In the wake of the pandemic, drive-thru restaurant locations have become even more desirable, and we currently have several contracts and leases out with major fast food chains,” Danielle Brunelli states. “Leases for several locations that had been on hold with my clients European Wax Center and Sally Beauty Supply have come off hold and are expected to be signed soon. We’re also representing the landlord on a lease with the outpatient arm of a major hospital system, as the medical sector continues its robust growth.”
The firm has recently experienced an uptick in leasing activity; suggesting that retail tenants are seeking relocation from regional malls to strip centers and open-air locations.
“Businesses are working on setting themselves up for the future just in case this pandemic continues,” adds Danielle Brunelli.