Leasing is now under way for a new, 12,600-square-foot retail center in the Silverton section of Toms River, New Jersey. Developer March Construction of Wayne, New Jersey, has retained R.J. Brunelli & Co. LLC as exclusive leasing agent for the property. With all municipal approvals now complete, March broke ground on the site in mid-September.
With a summer 2022 opening anticipated, the building at 1882 Hooper Ave. can be developed for a single tenant or be subdivided. In the case of restaurants, the site can accommodate a drive-thru on an endcap location.
“This easily accessible site offers high visibility on the ‘going-home’ side of Hooper Ave., a four-lane highway which delivers a daily traffic count exceeding 38,200,” said project manager Mario Brunelli, a vice president and principal at Old Bridge, New Jersey-based R.J. Brunelli. In addition to Hooper Avenue, the site provides rear access from Hinds Road and is also directly accessible from the U-turn jughandle at the Church Street intersection.
The property will serve a primary market of 61,507 residents within a three-mile radius. Average household income in that area exceeds $97,800. Extending out to a five-mile radius, the market includes 151,972 residents with an average household income of just under $103,000.
Lou March, Jr., president of March Construction, said his company expects to turn the building over to tenants for store build-outs in March 2022, and is targeting a grand opening for next summer. R.J. Brunelli additionally represented March Construction on its acquisition of the site; Michael DeGeorge, owner of DeGeorge Realty, acted as the seller’s broker.
