TFE Properties, LLC has closed on the acquisition of the 150,000 square foot building at 645 State Route 18 which was formerly occupied by the East Brunswick Kmart. The planned redevelopment of the property will include retail in front and potentially a mix of retail and other uses in the back. The site’s location is on a main hub of the Route 18 corridor, near ALDI supermarket, Stop & Shop, a daycare center, and several retail strip malls.
“One of our specialties is adding value to existing properties through renovations and market repositioning,” says Carey Tajfel, Co-President of TFE Properties. “We see a great opportunity in this East Brunswick property, and we think it will be an interesting challenge to break up a former single-use large box unit into the optimal mix of retail and other uses.”
Mr. Tajfel also looks forward to further contributing to the burgeoning East Brunswick business community. “Exciting things are happening on Route 18 in East Brunswick,” he says, “including the repositioning of some of the older shopping centers and a commitment by the new administration to bolstering retail and multi-family development on the corridor.” He also notes that the town’s excellent schools and strategic location for commuters are sure to be a boon for developers and for the community at large.
Other East Brunswick developments in the TFE Properties portfolio include the Chase Bank on Cranbury Road in the main office corridor, Cranbury Commons office building on Cranbury Road whose tenants include Pediatric Orthopedic Associates and Total Renal Care (DaVita), and a multi-pad retail site at 260 Route 18 featuring tenants such as Dunkin Donuts, AAA, and Army Recruitment Office. Overall, the growing TFE Properties portfolio includes projects throughout New Jersey and in Philadelphia.Related Articles: