Silbert First Quarter News and Deals
Updated: Jul 6, 2022
Premier Basking Ridge Lifestyle Center Welcomes Two New Tenant and Lease Renewed with Existing Tenant
The premier mixed-use development within Northern Somerset County, Riverwalk Village Center welcomes both national personal service provider European Wax Center and an established optical wear provider Warren Eye Care, having relocated from a nearby shopping center within a smaller store and ten-year history. The new European Wax Center is one of 800 national locations for a successful operator and is slated to open this spring. Additionally, campaign office of Tom Kean, Jr. has established its headquarters within the second-floor offices, while they seek the Republican nomination for Congress in New Jersey’s 7th district next year. According to President and CEO Brian S. Silbert of Silbert Realty & Management Company the exclusive leasing and managing agent for prominent owner/developer Bruce Bocina,
"We are delighted to welcome these excellent additions to our 21-year-old trophy development to complement commitments by existing retail, restaurant, and medical tenants" According to Silbert,
These companies join an already diverse tenant mix that includes the likes of Starbucks, 3 West, LingLing Restaurants, and many others.
Bridgewater's Villa Plaza for Sale
Assistant VP of Retail Brokerage, Joel Tomlinson has been tasked with the sale of this prominent 52,520 SF stabilized shopping center and having successfully represented the owner as leasing agent for over 15 years. Villa Plaza is home to notable tenants such as PNC Private Bank, Gold's Gym, and All-State insurance among others.
Villa Plaza is a highly desirable investment opportunity with approximately 5,000 residential units immediately adjacent and is surrounded by over 5 million SF of Class A office space within 2 miles including Wegmans supermarket.
With over 15 years of experience, Joel Tomlinson and the Silbert marketing department are most pleased to have been awarded the disposition assignment of Bridgewater's Villa Plaza.
Find Additional Sale Information at https://www.silbertrealestate.com/properties/villa-plaza
Salon 77 Joins Edison Shopping Center Through David Greenman
Silbert Realty & Management Company is excited to welcome Salon 77 and their owner-operator, Jaclyn Russomanno, to Edison Shopping Center. Known for its "Professional and incredibly talented staff", Salon 77 has seen great success through its soft opening and looks forward to the official opening on January 29th. Edison Shopping Center is 95% leased and currently offers an available pad site desirable for medical or retail use.
AT&T Inks Deal in Lowe's Shopping Center Marlboro, NJ to Reach 100% Occupancy
As long-time leasing and management agent, Silbert Realty & Management Company is pleased to announce a new lease with TWE “The Wireless Experience”, one of the most successful AT&T Dealers in the Northeast, with 90 plus locations. TWE has been hard at work converting the former GameStop space at JMP Marlboro, a Lowe’s anchored shopping center on Route 9 in Marlboro, and anticipates opening by the end of January. In addition to Lowe’s, the property is also tenanted by Starbucks, Vitamin Shop, ColdStone Creamery, and others. The Landlord was represented by David Greenman, Senior Vice President at SRM, and the Tenant was represented by Jack Kahn of Jack Kahn Realty.
Seventh and Final Property Sold from Former Viking Pest Control Portfolio
David Greenman, Senior VP of Retail Services, and Christian Harrington, Leasing Associate successfully concluded the former Viking Pest Control portfolio with the sale of the seventh and final property, 435 Route 18, East Brunswick, NJ at the price of $440,000, and the successful disposition of the client portfolio which included New Jersey and Pennsylivania. When asked about the portfolio of deals Mr. Harrington commented:
"Provided the Covid-19 pandemic and the effect on the sale and leasing of office properties, we are happy to announce the seventh and final sale concluding a successful string of transactions."
Olympian Joins Mountain Crest Mall
Christian Harrington, as exclusive leasing agent for the 21,400 SF shopping center, located off exit 40 of I-78, has leased 2,400 SF to The Colton Brown Training Center. Colton Brown competed in the 2016 Rio & 2020 Tokyo Summer Olympics and plans to use his experience and knowledge to teach Judo at the highest level. The new training center will become a great benefit to the shopping center as well as the Warren community. The two remaining retail units exist for lease and afford immediate occupancy.