Hackensack Meridian Health will open a 45,600-square-foot outpatient care facility at Monmouth Plaza Shopping Center on Route 35 in Eatontown, occupying spaces that formerly house DSW and Eastern Mountain Sports, along with a portion of the former Toys R Us store. — Courtesy: R.J. Brunelli & Co.
By Joshua Burd
Hackensack Meridian Health has leased nearly 46,000 square feet at a Monmouth County retail center, in the largest of several newly announced deals by R.J. Brunelli & Co.
The brokerage firm represented Monmouth Plaza Enterprises LLC, the landlord at 137 Route 35 in Eatontown, in a deal that will bring a new outpatient care facility to the Monmouth Plaza Shopping Center. Plans call for the new 45,600-square-foot space, which will include an urgent care center, to open in the second quarter of 2022.
R.J. Brunelli Chairman and Principal Richard Brunelli and Danielle Brunelli, president and principal, completed the assignment, while Jeffrey Babikian of CBRE represented Hackensack Meridian. The brokers noted that the operator will take over parts of three different retail spaces — previously occupied by Eastern Mountain Sports, DSW and Toys R Us — with DSW set to relocate to Consumer Square on Route 36 in West Long Branch.
“This lease is emblematic of the health care industry’s adaptive reuse of big-box retail buildings at well-located sites,” Danielle Brunelli said. “We were pleased to work with the landlord and tenant to assemble this major space along this highly trafficked retail corridor.”
R.J. Brunelli also represented ownership at the Toms River Shopping Center, a 253,000-square-foot property on Route 37, in new leases with Planet Fitness and Wing Stop. Both are expected to open in the third quarter of this year.
Danielle Brunelli completed the assignment. Joe Dougherty of Metro Commercial represented the fitness chain, which will move into a 17,867-square-foot space once occupied by Modell’s and will co-anchor the center with Kohl’s, while Gary Krauss of Pierson Commercial represented Wing Stop in the 1,500-square-foot commitment.
The firm’s other recent deals include a 9,977-square-foot lease at Red Bank’s Union Square, which is located at the intersection of Route 35 and Oak Hill Road. Brunelli represented Dollar Tree, which is projected to open in the third quarter, while Pierson Commercial’s Greg Medvin represented the landlord.