If the project gets done, as most observers expect it will, the shopping complex will join a growing array of commercial development along Route 66 in this Jersey shore township in Monmouth County. Commercial Realty & Resources has an office building in the works nearby, for example, and both H. Hovnanian Industries of Red Bank, NJ and Ohio-based Developers Diversified have mixed-use commercial projects on the drawing boards along the same highway both here and in neighboring Tinton Falls.
"We would very much like this project to move ahead as soon as possible," National Realty & Development president Richard Baker told local planning board officials at the latest in a series of public hearings late last week. The panel again raised issues involving the project and deferred a decision until a later date. The date for the next meeting was not announced.
Along with the Wal-Mart store, National Realty & Development is planning to add a 45,000-sf supermarket to the mix as a co-anchor. Other tenants, under the current proposal, would include a 25,000-sf auto service outlet, a table-service restaurant and a fast-food eatery. Altogether, the complex would total just less than 230,000 sf. While not identifying any other prospective tenants, Baker would only say that his company "is negotiating with a number of other retailers, including a supermarket tenant."
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