The Shops at Brick at 159 Van Zile Road — Courtesy: TFE Properties
By Joshua Burd
An affiliate of TFE Properties has acquired a nearly 104,000-square-foot retail center in Brick Township, with plans to update the property to capitalize on its location off Route 70.
JLL’s Kevin O’Hearn and Joseph Lopresti brokered the transaction at 159 Van Zile Road, the site of The Shops at Brick and the home of tenants such as Bonefish Grill and McDonald’s. The property also has several spaces available for lease, including opportunities for anchor and junior anchor users, offering what TFE said was on-site parking, strong visibility and access and a location that’s within walking distance of some 4,000 people.
Terms were not disclosed.
“We’re excited about this addition to our portfolio,” said Carey Tajfel, president of TFE Properties. “The Shops at Brick is in the heart of Brick Township, a strong community with high income levels and great demographics. We also plan to renovate the façade to give it a fresh clean modern appearance to help the center reach its full potential and align with our high company standards. That, combined with its prime location off two major roadways while being within walking distance for many people will be important factors for future tenants.”
The 103,832-square-foot shopping center, which is 3.5 miles from the Garden State Parkway’s Exit 88, is the fifth in Brick Township that TFE has added in recent years. Those properties also include a Starbucks, Fortunoff Plaza and the Boulevard at Brick apartment community along Brick Boulevard, plus a medical and professional office building off Chambers Bridge Road.
“There’s a reason we keep coming back to Brick,” Tajfel added. “It’s a town that is continuously growing and evolving. It’s exciting to be a part of.”
