Today, Regency Centers announced the purchase of 48.55 acres of land at Schulmeister Road and Route 9 in Old Bridge, NJ for the development of Glenwood Green, a new regional retail destination. Construction on the 360,000-square foot center began last month, and will include Target and ShopRite. Glenwood Green features 1,900 feet of frontage along Route 9, the primary commercial artery for the market, and carries more than 82,000 vehicles per day.
To anchor the center, Regency signed leases for a new 135,000-square foot Target and an 80,000-square foot ShopRite. This new ShopRite of Old Bridge, owned by Village Super Market, will have a focus on fresh with services including a large variety of organic produce, a bakery staffed by professional cake decorators, and a vast assortment of freshly prepared meal solutions and grab-and-go options from their team of chefs. Convenient grocery delivery and pickup will also be incorporated into their operations. The center will also include 43,000 square feet of shop space, and over 30,000 square feet of additional outparcels.
Glenwood Green will be the commercial entrance to The Oaks at Glenwood’s master-planned residential development adjacent to the property, which includes more than 1,200 homes. The first 80 homes are already under construction, with additional phases under development for delivery to residents in the next few years.
Glenwood Green is a unique property for so many reasons,” said Rebecca Wing, Vice President of Investments, Regency Centers. “When you combine its premier location on Route 9 with a best-in-class anchor tenant lineup, you have an opportunity to do something really special. It’s a perfect fit for our local expertise and time-tested strategy. As we get closer to opening day, we look forward to announcing additional retailers and amenities that will weave Glenwood Green into the fabric of the surrounding communities.
Glenwood Green is scheduled to open to the public in early 2024.