The Brunetti Organization 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 s/f 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 s/f of retail space.
Having already completed a substantial amount of the site work and infrastructure improvements at the site, Brunetti is poised to commence construction.
Pad sites and junior anchor positions and strip locations are now for lease at The Oaks at Glenwood, and Brunetti reports substantial interest has already been generated from several nationally-known retailers and restaurant chains.
“We have been receiving a tremendous amount of interest from a wide rage if retailers in a variety of categories,” said John Brunetti, Jr., vice president of The Brunetti Organization. “Old Bridge is known as one of Central New Jersey’s premier communities, but it is currently under-served from a retail standpoint.”
The Goldstein Group of Paramus is the exclusive leasing agent for the retail portion of The Oaks at Glenwood.