TOMS RIVER, NJ – Leasing is now under way for a new 12,600-square-foot retail center in the Silverton section of this Ocean County municipality being developed by March Construction of Wayne, .N.J. R.J. Brunelli & Co., LLC was named exclusive leasing agent for the property. With all municipal approvals now complete, March broke ground on the site in mid-September.
Located at 1882 Hooper Ave., just off the signalized intersection at Church Rd., the 1.7-acre site can be developed for a single tenant or be subdivided, with targeted categories including restaurants, day care, medical or dental offices, eyewear, bakeries, coffee shops, salons, cellular, and jewelry. In the case of restaurants, the site can accommodate a drive-thru on an endcap location.
“This easily accessible site offers high visibility on the ‘going-home’ side of Hooper Ave., a four-lane highway which delivers a daily traffic count exceeding 38,200,” said project manager Mario Brunelli, a VP and Principal at Old Bridge-based R.J. Brunelli. In addition to Hooper Ave., the site provides rear access from Hinds Rd. and is also directly accessible from the U-turn jughandle at the Church St. intersection.
The site adjoins a freestanding Walgreens (situated at Hooper Ave./Church Rd. intersection). Other prominent retail and food tenants in the immediate area along Hooper Ave. include Surf Taco and Bubakkoo Burritos (both just across the street), Stop & Shop, Burlington, Advance Auto Parts, Jersey Mike’s, Manhattan Bagel, and McDonald’s. Additionally, Starbucks recently opened on a pad site in the nearby Stop & Shop center on Brick Blvd. in Brick Township.
The property will serve a primary market of 61,507 residents within a three-mile radius. Average household income in that area exceeds $97,800. Extending out to a five-mile radius, the market includes 151,972 residents with an average household income of just under $103,000.
“Beyond the residential component, as the Ocean County seat, Toms River provides this site with a robust daytime population of 7,182 within a mile and 51,607 within three miles,” Mr. Brunelli noted. “These figures include employees and students at Ocean County College, which is just 1.5 miles away, and such other major employers as the county government, Meridian Health Systems and the Toms River Regional School District.”
He added that the site also benefits from an uptick in seasonal traffic during the summer months, due to Silverton’s location along the water. “Home prices in this area are skyrocketing like never before, especially during Covid, as more people are making their way to the water as a way to ‘escape,'” Mr. Brunelli said.
Lou March, Jr., President of March Construction, said his company expects to turn the building over to tenants for store build-outs in March 2022, and is targeting a grand opening for next summer.
R.J. Brunelli additionally represented March Construction on its acquisition of the site; Michael DeGeorge, owner of DeGeorge Realty, acted as the seller’s broker.
This will be the second project for March and Brunelli in the last two years. R.J. Brunelli served as exclusive leasing agent on The Parke at Hamburg in Wayne, March’s 50,150-square-foot retail project that opened 100%- leased last year with a tenant lineup led by Trader Joe’s, Ulta, The Paper Store, Everbrook Academy and Habit Burger, to be followed this spring by Panera Bread.
“Following our success in Wayne, we look forward to R.J. Brunelli delivering another strong tenant mix for this smaller scale project in this prime Ocean County location,” said Mr. March.
