A rendering of The Rail @ Red Bank — Rendering by Rotwein + Blake/Courtesy: Denholtz Properties
By Joshua Burd
Denholtz Properties has hired Pierson Commercial as its leasing agent for some 7,000 square feet of retail space at its soon-to-be-completed, mixed-use project in Red Bank.
Known as The Rail @ Red Bank, the ground-up development is taking shape at 116-118 Chestnut St., helping to redevelop the area around the borough’s NJ Transit station. Plans call for 57 luxury apartments that will be delivered next year, along with 7,300 square feet of ground-floor retail space.
Pierson Commercial’s Gary Krauss will spearhead the retail leasing assignment.
“In today’s challenging retail market, every aspect of the retail transaction has become more difficult and complex,” said Kristine B. Hurlbut, Denholtz’s senior vice president for leasing. “However, Pierson Commercial stands out for their ability to close deals on behalf of owners and tenants alike throughout the COVID-19 pandemic within many downtown New Jersey mixed-used developments. We look forward to working with Gary Krauss and the Pierson Commercial team as they help us bring dynamic and in-demand businesses to this growing neighborhood.”
Currently nearing the final stages of construction, The Rail @ Red Bank’s apartment and retail space will open alongside a renovated 30,000-square-foot office building, which is home to Denholtz’s new headquarters. The developer is seeking to revitalize the borough’s west side, hoping to capitalize on the train station and the overall growth of the community in recent years.
Krauss recently brokered a 600-square-foot lease at the project with Melonhead, a juice, smoothie and acai bowl shop, which marked the first retail tenant to sign a lease there. He is now marketing 6,700 square feet at the property.
“Red Bank has long been known for its vibrant downtown — it’s been named ‘the hippest town in New Jersey,’ ” said Krauss, a director with Marlboro-based Pierson. “Cutting-edge projects like The Rail@ Red Bank are already bringing new energy to the west side of town, with the well-known Sickles Market recently opening one block north of us by way of example. The Rail @ Red Bank offers businesses the rare opportunity to get in on the ground floor — at ground zero — in the borough’s next hot neighborhood. Thanks to Denholtz Properties for choosing our team, we look forward to working with them to create an economic catalyst for Red Bank and the surrounding market.”