News Outside the Region: R.J. Brunelli & Co. brokers $17.25 million sale; handles 21 leases

Brooksville, FL R.J. Brunelli & Co., LLC represented the buyers in the $17.25 million acquisition of Cortez Commons, a 72,160 s/f shopping center. To facilitate the transaction, investment sales specialist Mario Brunelli helped assemble a group of 25 investors to buy the metro Tampa property, with the investors receiving a cash-on-cash return of 8.15%. Located at 12966 Cortez Blvd., Cortez Commons was built in 2015. Holiday Fenoglio Fowler, L.P. represented the sellers.

Additionally, R.J. Brunelli, acting as Dollar Tree’s exclusive real estate representative in N.J., brokered five leases. In Union County, a lease was signed for an 12,230 s/f inline space at Plainfield Plaza, a 50,000 s/f center anchored by Supremo Food Market. The center is located at 249 East Front St. in downtown Plainfield.  R.J. Brunelli president/principal Danielle Brunelli-Albrecht brokered the deal for the store, which is expected to open in August.   

Brunelli-Albrecht also brokered deals that brought Dollar Tree to a 10,200 s/f freestanding space on Rte. 37 in Toms River that opened in April; a 10,000 s/f end-cap unit at Bergen Point Retail Center in Bayonne; a 9,100 s/f newly constructed building in Bellmawr located at 42 North Blackhorse Pike; and to a 9,300 s/f inline space at Plaza 70, located at 85 Rte. 70 in Marlton. The Marlton store is expected to open in July, followed by Bayonne in December and Bellmawr in the first quarter of 2018.

Meanwhile, franchises of The Max Challenge, the fast-growing New Jersey-based chain of fitness centers, signed leases for five more locations in New Jersey and two in Florida through deals brokered by R.J. Brunelli, which serves as the franchisor’s exclusive national leasing representative.  In northern New Jersey, franchisees signed leases for a 2,775 s/f inline space at 35 Main St. in Madison; and a 2,300 s/f space at 700 Harmon Plaza in Secaucus. In the southern part of the state, leases were signed for a 2,800 s/f space at Kingsway Plaza, 300 South Lenola Rd. in Maple Shade; a 2,490 s/f space at 80-88 Hartford Rd. in Moorestown; and a 2,400 s/f space at 90 Hwy. 9 South in Bayville. The Madison, Maple Shade and Bayville locations recently opened, while Moorestown and Secaucus are expected to follow soon.

In southeast Florida, The Max Challenge recently opened in a 2,313 s/f space at Yamato Commons, located at 349 Yamato Rd. in Boca Raton, while a 2,295 s/f location at the Beachway Shopping Center, 824 North Federal Hwy. in Pompano Beach, is expected to debut soon. All of the deals were brokered by R.J. Brunelli senior sales associate Patti Fiore-AmecAngelo. 

In its role with Verizon TCC, R.J. Brunelli executed lease renewals for a 3,867 s/f end-cap unit at Downtown Plaza, 325 Jimmie Leeds Rd., in Galloway, N.J., and a kiosk at Cherry Hill Mall in Cherry Hill, N.J. Both deals were executed by CEO and principal Ron DeLuca. R.J. Brunelli serves as exclusive sub-broker for the chain in New Jersey for master national broker Sperry Van Ness. 

In Monmouth County, Fiore-AmecAngelo represented the landlord and tenant in a deal that will bring 7-Eleven to a 3,145 s/f freestanding building at 671 Broadway in Long Branch. The chain is expected to open in the fourth quarter of 2018. R.J. Brunelli is the preferred broker for 7-Eleven in five New Jersey counties.

Fiore-AmecAngelo represented the landlord on the lease that will bring a Montessori pre-school to the former 6,500 s/f Pizza Hut building at 941 Rte. 35 in Middletown.  The school is expected to open in the fourth quarter of 2018. Meanwhile, Brunelli-Albrecht represented the landlord on the lease that will bring a UPS store to an 1,872 s/f space at Mounts Corner Shopping Center in Freehold.   

In Middlesex County, Brunelli-Albrecht represented the landlord in a deal that recently brought Bar Louie to a 6,554 s/f end cap space at the Plaza at Woodbridge in South Iselin. The neighborhood bar and eatery, which has over 110 locations nationwide, occupies the former Ruby Tuesday space at the center, which is anchored by Best Buy, Raymour & Flanigan, and Toys ‘R’ Us/Babies ‘R’ Us.

Meanwhile, in Ocean County, Brunelli-Albrecht represented the landlord on the lease that recently brought a 1,290 s/f Boost Mobile store to the Lakeview Village Shopping Center at 198 New Hampshire Ave. in Lakewood.

In Somerset County, the firm represented the landlord on a lease that brought Barb’s Bagels to a 1,512 s/f in-line space at the Shoppes at Pierce St. Executive vice president new business development/principal Bill Lenaz and sales associate Ashley Davidson brokered the deal.

In Bergen County, senior sales associate Alan Gott represented Eastern Dental on the lease for its recently opened 2,640 s/f office at Hackensack Commons, 450 Hackensack Ave. The full-service dental provider joined a tenant lineup anchored by The Home Depot and 99 Ranch Market.

In Pennsylvania, Fiore-AmecAngelo represented Redwood Real Estate Group on its acquisition of a 2.24-acre site on State Rd. in Croydon and subsequent land-lease of the property to Wawa for a convenience store/gas station that is expected to open in the first quarter of 2018.