Major Shopping Center on Route 1 in NJ Has Been Sold; Will It Stay Open?

A major shopping center on bustling Route 1 in New Jersey has just been sold, according to ROI - NJ.

The Shoppes at North Brunswick on Route 1 have been sold

JLL Capital Markets said on January 15 that it oversaw the leasehold sale of The Shoppes at North Brunswick. The shopping center on Route 1 North in North Brunswick, where it meets Route 130 in Middlesex County, has over 40 shops and some professional space as well. It sits on about 15 acres of land. It was built back in 2007 and is almost 147,000 square feet.

There are many big-name, popular retailers and dining options in the shopping center, currently. Top fashion brands include Anthropologie, Banana Republic, Talbots, Men's Wearhouse, and Road Runner Sports.

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Trendy shops include Bath & Body Works, Starbucks, Crumbl Cookies, Chipotle, Five Guys, Jamba Juice, and Haagen Dazs. There are also services like Orangetheory Fitness and Hand & Stone Massage & Facial Spa.

The Shoppes at North Brunswick has a convenient, outdoor shopping concept. Unlike a traditional mall, you can park near the stores you'd like to visit, instead of entering a big mall.

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An unnamed, private investor bought The Shoppes at North Brunswick

The article says the buyer is a local private investor. There's no word on the sale price. So, what happens now that it's sold? Will it stay open? Will it be closing?

The Shoppes at North Brunswick will stay open under the new ownership

The Shoppes at North Brunswick will remain open, an NJ.com article says. As of now, the shopping center is about 87% full. There is room for growth with new retailers, which made it attractive to the buyer.

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Kevin O'Hearn, from JLL's Investment Sales and Advisory team, said in a statement that, "the property offered excellent potential for the new owner to make further upgrades and attract trending tenancy."

Keep an eye out. I'm sure there will be more stores and services opening in the near future.

The Shoppes at North Brunswick are located at 650 Shoppes Boulevard in North Brunswick, New Jersey.