New 2,400 Acre Mixed-Use Development at Old Bridge, NJ, will include 500,000 SF of retail and 2,000 Residential Units.The Brunetti Organization, a prominent real estate developer in both Central New Jersey and South Florida, has announced that Shop-Rite 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 Shop-Rite and other retail tenants scheduled for the Summer of 2017. The announcement of the Shop-Rite 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.