Topgolf Opens Multi-Level Entertainment Center in Edison, NJ; Whole Foods Anchors New Retail Development in Bridgewater
John Hanlon, a Senior Vice President with CBRE Group’s Long Island/NYC Outer Boroughs offices and one of the top retail real estate advisors in the market, ended 2016 on a high note. A 25-year veteran of the commercial real estate industry, Mr. Hanlon arranged a number of major retail transactions throughout the Tri-State region.
In one of the most noteworthy deals, Mr. Hanlon spearheaded a lease for the opening of the first golf entertainment venue in Edison, NJ by Topgolf USA, Inc. The global entertainment company leased a 12.28-acre parcel of land at the Edison Towne Square Shopping Center, where itdeveloped a 64,232square-foot, three-story building and commercial recreation facility. Mr. Hanlon worked closely with Terry Syler and Luke Wilson of The Retail Connection, who act as the national representatives for Topgolf. Jerry Welkis of Welco Realty represented Hartz Mountain on the project leasing.
In addition to the Topgolf transaction, Mr. Hanlonarranged the ground lease for Regency’s 218,000-square-foot retail project, Chimney Rock in Bridgewater, NJ. Furthermore, Mr. Hanlon and his team preleased retail space to Whole Foods, The Container Store, Nordstrom Rack and Saks Off Fifth. Regency broke ground for the complex in December, with opening slated for summer 2018. Chase Welles of The Shopping Center Group represented Whole Foods; Scott Muller of CBRE acted on behalf of The Container Store; Jeffrey Howard of Ripco represented Nordstrom Rack; and Brian Katz of Katz & Associates represented Saks Off Fifth.
Other major retail transactions Mr. Hanlon was instrumental in completing included an 80,000-square-foot lease in South Plainfield, NJ and a 67,000-square-foot deal in Massapequa, NY for ShopRite supermarket stores. The South Plainfield ShopRite is located in the Golden Acres Shopping Center at 3600 Park Avenueand is operated by SakerShopRites.
In Massapequa, Mr. Hanlon represented the ownership, Wakefern, in crafting a long-term lease for a ShopRite supermarket. The new lease followed Wakefern’s acquisition of the former Waldbaum’s lease out of bankruptcy. The 67,000-square-foot store is operated by Buonadonna’sShopRites.
“2016 ended with a bang,” says Mr. Hanlon. “We experienced one of the most active real estate markets since the recession. High-profile retail tenants, buoyed by a stronger national economy, continued to expand throughout the New York Tri-State area and inking large scale transactions.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
