says two major plazas
may be changing hands
East Brunswick official
says two major plazas
may be changing hands
BY VINCENT TODARO
Staff Writer
EAST BRUNSWICK — Two Route 18 shopping centers, both owned by the same family, may be sold in the near future.
Edward Cohen, the township’s economic development coordinator, said yesterday that the Branciforte family is expected to sell its A&P Shopping Center by the end of the month, though he would not disclose the buyer.
The Meyer’s plaza, which for years has been mostly vacant and recently has been the subject of rumors with regard to future uses, is currently the focus of negotiations between the family and one or two possible buyers, Cohen said.
"But it’s still a vague situation," he said.
Meyer’s, once a vibrant center, has remained vacant due to indecision amongst its owners, according to Councilman Edwin Brautman, who addressed the issue at a recent council meeting.
Cohen did not say who was negotiating for the property or what prices were being considered.
The issue of vacancies in some shopping centers was brought up to the Township Council recently when a council candidate complained that the administration was focusing on redeveloping the Sam’s Club site, which is fully occupied, on the basis that it could be better used, while other plazas had several vacancies.
Cohen told the Sentinel the township and administration have tried to bring major retailers into East Brunswick but has little power other than persuasion. The township cannot force private property owners to come to deals with retailers to rent space. The township owns the Sam’s Club site, also known as the Golden Triangle.
"But once they do [reach agreements], we can help in the approval process," he said.
"I talked two weeks ago to a major sports dealer about locating in East Brunswick," Cohen said. "He said he will look into it. That’s what we can do."
Cohen spoke at Monday night’s Township Council meeting and described the vacancy situation on Route 18. The vacancy rate was 4.9 percent in 2003, he said, up from an all-time low of 2.9 percent in 2002.
But Cohen said he thinks that rate will decrease over the next year. For instance, the 18 Plaza, also known as The Gap plaza, has about half its space vacant, but an Office Depot is negotiating to move there, Cohen said.
Also, Planning Board applications have been filed for two more business to move into that center — a gourmet Chinese supermarket in the building that housed The Wiz, and Bonefish, owned by the Outback restaurant chain.
"It will be the first Bonefish restaurant in New Jersey," Cohen said.
Brunswick Square Mall will be full by the end of the summer, with the exception of the former CVS store, he said, noting that the mall is considering a 30,000-square-foot expansion next year.
In addition, the former site of Stuff Yer Face is expected to be operated as an upscale steakhouse, he said. The council this week approved the sale of Stuff Yer Face’s liquor license to the new operator.
A Perkins Pancake House is also expected to open at a former diner site on Route 18 North near the Sam’s Club property.
Renovations are also taking place, as the Acura dealer has just finished a major project and the McDonagh Chrysler Jeep dealership is undergoing building improvements.
The Seville Diner is also undergoing a renovation and will take on a 1950s theme.