OLD BRIDGE, N.J., Jan. 9, 2013 /PRNewswire/ -- Construction and leasing are now under way on Woodhaven Plaza, a new neighborhood shopping center on Texas Road in Old Bridge, just east of Spotswood-Englishtown Road (CR 527) and approximately one mile from Monroe Township.
Old Bridge-based R.J. Brunelli & Co., LLC serves as exclusive leasing agent for the center, which will ultimately contain over 118,000 square feet of space divided between four buildings. The property will serve as the retail component of Woodhaven Village, a planned residential community that already contains a mix of over 350 single-family detached homes, townhouses and apartments, as well as recreational areas. Both the retail and residential areas are being developed by Atlantic Realty of Woodbridge, N.J., which plans to build approximately 1,600 homes on the 1,454-acre site.
"As the largest retail center in the immediate vicinity, Woodhaven Plaza will not only fulfill day-to-day shopping and service needs of existing and future residents of Woodhaven Village, but is also within minutes of affluent developments in Monroe Township, a fast-growing municipality where restrictive zoning has severely limited retail development," said Marty Yaged, sales associate at R.J. Brunelli. "This represents a great opportunity for retailers and services looking to capitalize on an under-served local market."
All told, the property will draw from a population of approximately 38,000 residents with an average household income of $124,000 within a three-mile radius and more than 140,000 people with an average household income exceeding $128,000 within a five-mile radius.Leases are currently out for review with a fast food chain, liquor store, hair salon, daycare center and martial arts studio. Yaged noted that other uses being targeted for the site include a small-scale supermarket, fitness center, dollar store, bank, dry cleaners and an independent pharmacy. "In particular, we believe this site offers great potential for a small-scale supermarket. To do a major food shopping, residents of this section of Old Bridge and northern Monroe currently have to travel approximately 3.3 to 4.7 miles to supermarkets along Route 9 in Old Bridge and Marlboro," he explained. Initial spaces in Woodhaven Plaza are expected to be ready for delivery to tenants in the summer of 2013.