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April 9, 2013 /PRNewswire/ -- In a transaction brokered by
R.J. Brunelli & Co., Inc., Gary's Wine & Marketplace has signed a lease for approximately 11,100 square feet at The Shoppes at
Randolph, an 80,560-square-foot specialty shopping center currently under construction on Route 10 in this
Morris County municipality. The center, a development of Grecco Realty, LLC of
Randolph, recently received final site plan approval.
"We are seeing a great deal of interest in The Shoppes at
Ron DeLuca, senior vice president of
R.J. Brunelli, which serves as exclusive broker for the property. "In addition to Gary's, which is a highly respected retailer with three existing locations in northern
New Jersey, we also have leases out with Bonefish Grill for 5,000 square feet, the highly popular Chipotle Mexican Grill for a 2,000- square-foot pad location, and an upscale specialty food market for approximately 12,800 square feet. Negotiations are also in progress with several other national, regional and local foodservice operators and specialty retailers.
"We are focused on tenanting the remaining available space with upscale retailers reflective of the market, with a focus on fashion and other specialty stores," added DeLuca.
Situated on 11.5 acres on the westbound side of Route 10, The Shoppes at
Randolph will draw from an overall market of more than 288,000 residents within an eight-mile radius, with an average household income of just under
$109,000. Within a five-mile radius, there are more than 136,000 residents with an average household income of nearly
$107,000. The center will additionally draw from a daytime population of more than 88,500 workers within a 10-minute drive.
"The site offers more than 1,000 square feet of highway frontage, providing substantial visual impact for the 49,000 vehicles passing by each day," noted DeLuca. Parking will be provided for 415 cars, or five spaces per 1,000 square feet.