Orchard Plaza at 1610 Route 35 in Oakhurst — Courtesy: TFE Properties
By Joshua Burd
TFE Properties has acquired a 70,000-square-foot retail center in Monmouth County, seeking to modernize the property to tap into other economic development efforts in the area.
The firm, which is based in East Windsor, paid an undisclosed sum for the 10-acre Orchard Plaza in the Oakhurst section of Ocean Township. It has yet to finalize its plans for the complex at 1610 Route 35 but noted that the center, once a booming destination for shoppers when it opened in 1980, is now ripe for a new, updated vision to better serve the surrounding community after years of mounting vacancies.
“Monmouth County is an ever-growing destination for residents, vacationers, commuters and businesses,” said Carey Tajfel, president of TFE Properties. “And with the new Netflix production facility coming to the former Fort Monmouth campus, Route 35 is going to see an increase in traffic. We want to make sure the area is up to its peak potential.”
Tajfel said it was considering several “attractive possibilities” for the property.
“The plaza is situated in an excellent location along a busy thoroughfare surrounded by other thriving retail centers in Ocean Township. We’re confident that with some modernization tailored to the community’s needs, the future site will thrive.”
