Hazlet Town Center at Route 35 and Bethany Road in Hazlet — Courtesy: Pierson Commercial
By Joshua Burd
The owners of a new-look shopping center in Hazlet have welcomed four additional tenants to the property, in a series of deals announced Thursday by Pierson Commercial.
According to the leasing team, the new transactions at Hazlet Town Center span 44,805 square feet and include a commitment by Urban Air Adventure Park, which is taking 39,699 square feet at the Route 35 property. Bubbakoo’s Burritos, meantime, leased 1,825 square feet, while CoCo Fresh Tea & Juice and AT&T Wireless are taking 1,250 and 2,031 square feet, respectively.
Pierson Commercial’s Gregg Medvin spearheads the leasing team on behalf of Onyx Equities and Siguler Guff & Co., the joint venture that owns Hazlet Town Center. Stephen Carrozza of Metro Commercial and Matt Kenderian of Jeffery Realty represented Urban Air Adventure Park, while Pierson’s Gary Krauss and Jack Kahn of Jack Kahn Realty Services Corp. represented Bubbakoo’s Burritos and AT&T Wireless, respectively.
“Within a short period of time, Hazlet Town Center has been transformed into a high-profile lifestyle and experiential services destination within the sought-after, in-demand Hazlet-Holmdel-Middletown Route 35 retail submarket,” said Medvin, a vice president with Marlboro-based Pierson Commercial. “Anchored by recent tenant additions of Burlington and Aldi, which book-end Urban Air, the shopping center appeals to a diverse slate of tenants, from national and local service providers to medical, fitness and restaurant providers.”
In addition to the latest leasing activity, Panera’s indoor and outdoor dining with a drive-thru location and Bubbakoo’s Burritos at the center’s northwest corner recently opened, according to a news release. Construction is slated to begin shortly on the pad at the northeast corner for a Wawa convenience store and fueling station.
Onyx and Siguler Guff have continued to attract tenants to Hazlet Town Center since acquiring it in 2016. They have also carried out sweeping renovations at the property including extensive façade refurbishments and a complete rebranding and repositioning, seeking to capitalize on the area’s dense residential population and the high-household-income residential neighborhoods in Hazlet, Holmdel, Colts Neck and Matawan.
Pierson Commercial is currently engaged in lease-up negotiations for the remaining space availabilities, Medvin said, including an additional 2,792 to 4,200 square feet available.
“Hazlet Town Center is an integral fixture within this highly desirable trade market, where we are committed to enhancing the immediate-area’s lifestyle choices,” said Matthew P. Flath, vice president of asset management at Onyx Equities. “By repositioning Hazlet Town Center, we are ensuring the shopping center’s longevity as a center of commerce as well as a community gathering place.”