NAI DiLeo-Bram & Co. (NAIDB) recently arranged a retail property sale in Union County, N.J., as well as two new retail leases on behalf of food and beverage tenants.
In the sale of a 2,000 square-foot retail building located at 2515 Vauxhall Road in Union, N.J., Overcomers ABA Services LLC acquired the asset from a private owner. The sale, arranged by NAIDB Vice President Richard Goski and Associate Vice President Catherine Goski-Vasquez, highlighted continued demand stemming from service-oriented and essential businesses seeking valuable space within densely populated, upper-income Middlesex County.
On the leasing front, NAIDB also completed two new commitments, resulting in food-and-beverage concepts establishing prime locations in Monmouth and Mercer counties. Vice President Jennifer Harrison served as tenant rep for both transactions.
In the first deal, KSPH Ventures LLC, (DBA Tim Hortons), secured 2,000 square feet of retail space at 245 Main Street in Forked River, N.J. The property, which is owned by Sunrise Pointe LP, introduces a major international coffee and baked goods brand to the municipality. At The Shoppes at AMC (199 Sloan Ave. in Hamilton Township, N.J.), Wegu LLC (dba Blue Print Cookies) committed to 1,033 square feet to launch its first New Jersey location.
“Necessity-based and quick-service retail demand remains exceptionally high across our markets of focus,” said Harrison. “While overall leasing activity has slowed year-to-date, this is primarily due to a constrained supply of quality, available space, rather than a lack of demand.”
