A Brick Township shopping center has been acquired by a new ownership group and will be rejuvenated with improvements and new tenants, the company said.
The Shops at Brick, which is currently anchored by Bonefish Grill and McDonald’s as its anchor tenants, has now come under the ownership of FTE Properties. The owner already has a significant footprint in the township, with ownership stakes in Starbucks, Fortunoff Plaza, the Boulevard at Brick apartment community – all along Brick Boulevard – and a medical and professional office building along Chambers Bridge Road.
Originally built in 1963, the 100,671 square foot shopping center has attracted numerous big-name tenants over the years, including the former Channel hardware chain, Aldi supermarket and Big Lots box store. Aldi most recently moved to the new shopping center that replaced the former Foodtown supermarket property on Route 70.
FTE’s representatives said in a statement that they were seeking to make improvements to the 31-acre property, including attracting new flagship tenants.
The Shops at Brick (Photo: TFE Properties)
“We’re excited about this addition to our portfolio,” said Carey Tajfel, President of TFE Properties. “The Shops at Brick is in the heart of Brick Township, a strong community with high income levels and great demographics. We also plan to renovate the façade to give it a fresh clean modern appearance to help the center reach its full potential and align with our high company standards.”
Tajfel said the “prime location off two major roadways,” while being within walking distance for many people, will be important factors for attracting future tenants.
“There’s a reason we keep coming back to Brick,” Tajfel said. “It’s a town that is continuously growing and evolving. It’s exciting to be a part of.”
The sale price of the property was $6,800,000, according to Ocean County deed records.