10-50 International Drive South in Flanders — File photo/Courtesy: JLL
By Joshua Burd
Fitness Factory Health Club has found its newest location after leasing more than 16,000 square feet in the Flanders section of Mount Olive, in a newly announced deal by R.J. Brunelli & Co.
According to the brokerage team, the Edgewater-based chain will occupy more than half of a former Bed Bath & Beyond store at the power center known as The Gardens. The space will provide it with a location near the intersection of Route 46 and Interstate 80, where it joins other newly opened or newly signed tenants such as Boot Barn, Ross Dress for Less, Home Goods and Chipotle Mexican Grill, as well as occupiers such as Lowe’s, TJ Maxx and others.
R.J. Brunelli’s Danielle Brunelli represented ownership in the 16,400-square-foot deal at 10-50 International Drive South. She noted that The Gardens, the 373,612-square-foot property long known as ITC Crossing South, is now 98 percent leased.
“In the past two years, we backfilled major vacancies arising from bankruptcy-driven closures of Babies ‘R Us and Bed Bath & Beyond, as well as the departure of Old Navy,” said Brunelli, president and principal of the Old Bridge-based firm. “The execution of leases with these exciting new national and regional tenants points to the strength of this center, which underwent a major renovation under owner Black Lion Investment Group.”
The health club will be Fitness Factory’s second in Morris County, Brunelli said, adding that it has 17 company-owned and franchised health clubs in operation or under development in northern and central New Jersey, as well as Westchester County and Harlem in New York. The company also plans to expand into Pennsylvania.
In Flanders, it will occupy the former Bed Bath location alongside Boot Barn, which leases the 13,800-square-foot balance and recently opened.
“Choosing The Gardens was very simple since it checked off the strategic and Class A real estate boxes on our list,” Fitness Factory Managing Member Richard Scarpati said. “This location gives us a catbird seat in the upper northwest quadrant of New Jersey, which is starving for a big-box, full-service premium facility, and we will be flanked by our huge sister location in Rockaway, N.J. We are anxious to become part of and service the Flanders community and other nearby towns.”
Managing Member Dennis Cieri added: “We couldn’t be more excited to expand the Fitness Factory brand into the Mount Olive region and are looking forward to contributing to the improved health and fitness in the greater community.”
Brunelli noted that ITC Crossing South serves a residential population of 246,826 within a 10-mile radius, with an average household income of $142,115. The property also benefits from a daytime population of 228,457 within the 10-mile ring, including 71,398 within five miles of the site.
Investor buys 374,000 sq. ft. Morris County shopping center for $50 million
