Old Bridge, N.J. , June 02, 2016 (GLOBE NEWSWIRE) -- The Brunetti Organization, a prominent real estate developer in both Central New Jersey and South Florida, has announced that ShopRite has signed on as the anchor retail tenant at their soon-to-be-developed 2,400-acre mixed-use town center development, The Oaks at Glenwood, in Old Bridge, NJ. Construction on the 90,000 SF grocery super center is set to begin almost immediately, with occupancy of the ShopRite and other retail tenants scheduled for the Summer of 2017. The announcement of the ShopRite lease is expected to spur finalization of lease negotiations with several additional well-known retail tenants.
When completed, the development will feature 2,000 residential units and over 500,000 SF of retail space. A prime retail site located at the corner of Route 9 South and Schulmeister Road, The Oaks at Glenwood features convenient access to both the NJ Turnpike and Garden State Parkway, and currently boasts a traffic count of over 68,000 cars daily. With over 1,200 feet of highway frontage and easy access to the site, as well as a NJ Transit park-and-ride bus facility nearby, the site is certain to be a winner with both retailers and the upscale, mobile demographic that will be attracted to the residential units.
Having already completed a substantial amount of the site work and infrastructure improvements at the site, The Brunetti Organization is poised to commence construction upon completion of the connection of utilities. Brunetti is currently offering pad sites and junior anchor positions in addition to strip locations for lease at The Oaks at Glenwood, and the organization reports that substantial interest has already been generated from several nationally-known retailers and restaurant chains.
Old Bridge township is located in Middlesex County, New Jersey, and currently boasts a population of over 65,000 residents. It is 35 miles southwest of New York City, directly off The Garden State Parkway, one of the region’s major arteries. The Township is highly accessible via Interstate 287, Routes 34, 35, 18, and1 & 9, and The New Jersey Turnpike.
“We have been receiving a tremendous amount of interest from a wide rage if retailers in a variety of categories,” said John Brunetti, Jr., Vice President of The Brunetti Organization. “Old Bridge is known as one of Central New Jersey’s premier communities, but it is currently underserved from a retail standpoint. Everything points to success for retailers who choose The Oaks at Glenwood.”
“We were particularly pleased to make this announcement at the International Council of Shopping Centers (ICSC) RECon show in Las Vegas,” continued Brunetti. “The Brunetti Organization is a long-time member and supporter of the ICSC, and we believe making this announcement at the ICSC RECon Show will stimulate additional retailer interest in The Oaks at Glenwood.”
The Goldstein Group of Paramus, NJ is the exclusive leasing agent for the retail portion of The Oaks at Glenwood. President, Chuck Lanyard, Vice President, Mark Handwerker, and Principal, Neil Goldstein, are representing the property on behalf of The Brunetti Organization. Construction management and consulting services are being provided by John D. Potter and Hal Dodt of Equitas Management Group.
Retailers interested in securing an opportunity at The Oaks at Glenwood are encouraged to contact The Goldstein Group at (201) 703-9700.
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John Lonsdorf R&J Strategic Communications 908-722-5757 ex 107 Jlonsdorf@randjsc.com
Source:The Brunetti Organization