Latest major tenant signing follows recent openings of Ross
and Boot Barn at renovated Morris
County center; Skechers debuting in June, as lease rate
climbs to 98%
MT.
OLIVE, N.J., May 23, 2024
/PRNewswire/ -- Fitness Factory Health Club will be bringing
its personalized approach to training this summer to The
Gardens shopping center (formerly ITC Crossing South) in this
Morris County community. In
anticipation of the opening, the company has commenced pre-sales of
memberships to the club.
R.J. Brunelli & Co., exclusive leasing agent for the
373,612-square-foot power center, signed the fast-growing regional
health club to a 16,400-square-foot space that occupies the
remaining portion of the property's former Bed, Bath & Beyond
store. The 13,800-square-foot balance of that space was occupied by
the recently opened Boot Barn—the national western wear and casual
apparel chain's first location in northern New Jersey.
Fitness Factory and Boot Barn join a list of newcomers to the
property that includes the recently opened Ross as well as
Skechers, which is set to debut in early June. Home Goods opened at
the site in Summer 2023. These will be followed in the fourth
quarter of this year by a 2,500-square-foot Panda Express and a
2,325-square-foot Chipotle Mexican Grill in a newly developed
pad site building. Chipotle will offer drive-thru service.
Located just off the intersection of Routes 46 and 80 in the
Flanders section of Mt. Olive Township, The Gardens features such
other major retailers as Lowe's, TJ Maxx, Home Goods, Michael's,
PetSmart and Five Below. An adjoining Walmart, which owns its
store site, serves as a shadow anchor.
"With these latest deals, we're pleased to report that The
Gardens is now 98%-leased," said Danielle
Brunelli, President and Principal of Old Bridge, N.J.-based R.J. Brunelli. "All
that remains available are two spaces of 4,500 and 2,600 feet. In
the past two years, we backfilled major vacancies arising from
bankruptcy-driven closures of Babies 'R Us and Bed, Bath &
Beyond, as well as the departure of Old Navy. The execution of
leases with these exciting new national and regional tenants points
to the strength of this center, which underwent a major renovation
under owner Black Lion Investment Group."
The Gardens' new Fitness Factory will be the second location in
Morris County for the Edgewater, N.J..-based chain, which currently
has 17 company-owned and franchised health clubs in operation or
under development in Northern and Central
New Jersey, as well as Westchester County and Harlem in
New York. The company also plans
to expand into Pennsylvania.
Founded in 1998 by family members Dennis
Cieri, Daniel Cieri and
Richard Scarpati, Fitness Factory is
known for its premium facilities and affordable programs tailored
for novice and seasoned fitness enthusiasts alike. The clubs offer
cutting-edge cardio equipment along with personal training services
tailored to diverse fitness goals, innovative group classes and
such amenities as an all-natural juice bar and on-site
childcare.
"Choosing The Gardens was very simple since it checked off the
strategic and Class A real estate boxes on our list," said Fitness
Factory Managing Member Richard Scarpati. "This location gives us a
catbird seat in the upper northwest quadrant of New Jersey, which is starving for a big-box,
full-service premium facility, and we will be flanked by our huge
sister location in Rockaway, N.J. We are anxious to become
part of and service the Flanders
community and other nearby towns."
Managing Member Dennis Cieri added: "We couldn't be more excited
to expand the Fitness Factory brand into the Mt. Olive region and are looking forward to
contributing to the improved health and fitness in the greater
community."
For information on membership at the upcoming Gardens Fitness
Factory, contact: caremtolive@fitnessfactorygym.com
Among the other recent tenants, Home Goods occupies 26,000
square feet of the former Babies 'R us space, with the remaining
11,745 square feet taken by Skechers. The 20,000-square-foot Ross
took over the vacant Old Navy space.
Ms. Brunelli represented the property owner on all of the
aforementioned leases, while Jerry
Welkis of Welco Realty represented Home Goods,
Amy Staats of Katz & Associates
represented Ross, Mike Horne of
Ripco represented Boot Barn, and Sean
Pyle of Sabre represented Skechers. Meanwhile, Chipotle was
represented by Glenn Beyer of
Newmark and Panda Express was represented by David Dunkelman of Soloff Realty &
Development.
With immediate or nearby access to Route 80 (daily traffic count
of 85,000 vehicles), Route 46 (35,000 vehicles) and Route 206
(24,000 vehicles), ITC Crossing South serves a population of
246,826 residents within a 10-mile radius. Average household income
is the area is $142,115. The property
also benefits from a daytime population of 228,457 within the
10-mile ring, including 71,398 within five miles of the site.
For leasing information on The Gardens, contact Danielle Brunelli, (732) 721-5800 or
dbrunelli@rjbrunelli.com
About R.J. Brunelli & Co., LLC
R.J.
Brunelli & Co. serves as exclusive broker for 44 retail
properties with a combined gross leasable area (GLA) exceeding 3.5
million square feet, and eight properties for sale. The properties
are located throughout New Jersey,
as well as in Pennsylvania,
Connecticut, Rhode Island,
Massachusetts, New Hampshire and Michigan. The firm also serves as exclusive or
preferred tenant representative for 27 retail, restaurant, family
entertainment, and service chains. These include representation in
various New Jersey, New York and Pennsylvania counties for such companies as
Dollar Tree, Family Dollar, Raising Cane's Chicken Fingers,
Gregory's Coffee, Vio Med Spa, European Wax Center, Asian Food
Market, Millburn Deli, DIG (fast casual restaurant), Alliance
Orthopedics, and One Love Pickleball.
Media contact for R.J. Brunelli: At Jaffe
Communications, Elisa Krantz, (908)
789-0700; 378150@email4pr.com
Note to Media: Property photos are available
from Jaffe Communications.
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SOURCE R.J. Brunelli & Co.