Aldi Inc. leases 20,000 square feet; joins Starbucks Coffee, MedExpress&Rock on Nails asnewest tenants at Wall Promenade
December 5 JLL has completed four new retail leases, totaling 30,000square feet, at Wall Promenade, 1919-1925 State Route 35 in Wall Township, N.J., for property owner RT 35 Wall Promenade LLC. Aldi Inc. took 20,000 square feet, MedExpress leased 4,570 square feet, Rock On Nails signed for 4,000 square feet and Starbucks Corp.took 2,000 square feet at the 55,000-square-foot shopping center.
The building owner was represented by Marta Person Villa, senior vice president, with JLL. She worked closely with Eric Mund, president, withRT 35 Wall Promenade LLC.
“Aldi is a terrific anchor tenant for the newest shopping center at the Jersey Shore,” said Villa. “The area immediately surrounding Wall Promenade is home to nearly 50,000 people in prosperous communities such as Sea Girt, Spring Lake, Belmar, Manasquan, Spring Lake Heights and Lake Como.”
Aldi completed a 15-year lease for 20,000 square feet of retail space at Wall Promenade. The grocery chain was represented by Brian Wherty, principal, of Equity Retail Brokers.
MedExpress inked a 10-year lease for 4,750 square feet of retail at the shopping center. The urgent care center was represented by Kenny Mandelbaum and Jerry Welkisof Welco Realty Inc.
Rock On Nails signed a 10-year lease for 4,000 square feet of retail at Wall Promenade. The nail salon was represented by Beth Falletta, sales associate, with Lakis Commercial Realty LLC.
Starbucks completed a 10-year lease for 2,000 square feet at the shopping center. The coffeehouse chain was represented by Gregg Medvin, vice president, with Pierson Commercial Real Estate LLC. The new Starbucks location will include a drive through.
The soon-to-be completed Wall Promenade includes three buildings with a total of55,000 square feet of retail shops, services and restaurants. The shopping center is located directly on Route 35, near the intersection of Route 35 and Allaire Road, and is approximately one mile south of the Rt. 138 and Rt. 35 interchange.
“Wall Promenade is our newest venture, and we are thrilled at JLL’s ability to fill nearly half the center in just a few months,” said Mund. “Located on avery well-traveled regional highway, Wall Promenade offers retailers a tremendous opportunity to draw from summer beach and year-round local traffic.”
JLL is a leader in the northern/central New Jersey commercial real estate market, with more than 1,000 professionals and support staff providing agency leasing and property marketing, tenant representation, industrial services, strategic consulting, occupancy planning, workplace strategies, project and development services, property and facility management, and investment sales/capital markets services to New Jersey's leading corporate tenants, investors and landlords. The firm, which assists clients from three full-service offices in Parsippany, Iselin (Metropark) and East Rutherford, also acts as a local service provider for JLL’s global and national corporate clients in need of real estate assistance in New Jersey. JLL’s New Jersey operations were honored by NJBiz magazine as one of its 2015 Best Places to Work in New Jersey.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the third quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of over 80,000. As of September 30, 2017, LaSalle Investment Management had $59.0 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit ir.jll.com.
