NAI DiLeo-Bram & Co. recently completed a retail property sale and two significant food and beverage leases, underscoring the resilience and high demand within the Northern/Central New Jersey retail market.
These transactions validate the firm’s latest Fall 2025 Market Review, which detailed the region’s robust and tightly held retail fundamentals.
In the sale transaction, a 2,000-square-foot retail building at 2515 Vauxhall Road in Union, was acquired by Overcomers ABA Services, LLC from a private owner. The sale, arranged by Vice President Richard Goski and Associate Vice President Catherine Goski-Vasquez (Team Goski), highlights sustained demand from service-oriented and essential businesses looking for valuable space in densely populated, upper-income areas.
Leasing activity was driven by the food service sector, with NAIDB Vice President Jennifer Harrison representing the tenants in both new commitments across Monmouth and Mercer counties.
The transactions include:
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Tim Hortons in Forked River: KSPH Ventures LLC, operating as Tim Hortons, secured 2,000 square feet of retail space at 245 Main Street in Forked River. This commitment introduces the major international coffee and baked goods brand to the municipality.
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Blue Print Cookies in Hamilton Township: Wegu, LLC (DBA Blue Print Cookies) committed to 1,033 square feet at The Shoppes at AMC (199 Sloan Ave., Hamilton Township) for its first New Jersey location. This lease points to the growing consumer appetite for specialized, experiential food offerings.
According to NAIDB’s latest market report, the retail market in Northern/Central New Jersey has maintained positive net absorption for five consecutive years. The firm notes that occupancy rates across all retail asset classes consistently stand at or above 95%, with Class A properties showing exceptional tightness at over 97% occupancy.
Harrison noted that while overall leasing activity has slowed year-to-date, this is due to a constrained supply of quality, available space, rather than a lack of tenant demand, particularly from necessity-based and quick-service retail concepts.
This constrained supply has fueled significant rent growth, with overall net rental rates (triple-net) rising by more than $1.00 per square foot over the past year, now averaging $22.84/SF. The market’s resilience is further validated by 1.8 million square feet of leases executed year-to-date, confirming the strong appeal of New Jersey’s demographics and thriving brick-and-mortar retail sector.
