Over 30 acres of land at Shulmeister Road on Route 9 in Old Bridge, New Jersey, was recently sold and will be transformed into a new retail shopping center named Glenwood Green.
The shopping center will encompass over 355,000-square-feet and be anchored by Target and an 80,000-square-foot ShopRite Supermarket. The center will feature five different out parcel buildings to accommodate the demand for small to medium-sized tenants, as well as offer a varied tenant mix of local and national shops, restaurants, fitness venues, and a combination gas station and convenience store. 1200 new residences are currently under construction adjacent to the site.
The Goldstein Group’s Chuck Lanyard, President, along with Neil Goldstein, Principal, and Mark Handwerker, Executive Vice President, represented both the seller and buyer in the transaction. The seller, Brunetti Organization, had owned the site for decades while the buyer, Regency Centers, had recently received approvals for the new shopping center.
“It was a real pleasure being instrumental in bringing such a well-respected and successful developer, Regency Centers, to this long-awaited project site,” noted Lanyard. “Regency’s approved development plans are just what the Old Bridge market area has had a big demand for, meeting not just the needs of Old Bridge, but the surrounding communities as well. The most exciting part is this location will be an all-retail market trade area, situated between the existing major retail markets of Freehold and Woodbridge”.