AT PARKWAY 70 PLAZA IN BRICK, NEW JERSEY
First Houlihan's in Ocean County Coming to Brick
BRICK, NJ, MAY 2, 2005 - Edgewood Properties, one of the fastest growing real estate companies in New Jersey, has announced it has leased a combined 150,892 square feet of retail space at the new Parkway 70 Plaza in Brick, New Jersey. Costco has signed a lease to occupy 143,000 square feet and Houlihan's will occupy 7,892 square feet at Parkway 70 Plaza. The 288,245-square-foot retail complex located on Route 70 in Brick Township, is being developed adjacent to the bustling Lakewood-Brick border. Construction is expected to commence this spring and conclude in the summer of 2006.
Costco will be relocating to Parkway 70 Plaza from its existing location at Route 88 and 70, while Houlihan's will be opening its first restaurant ever in Ocean County as part of its aggressive ongoing expansion within the State of New Jersey.
Joseph D. Morris, vice president of commercial leasing and marketing of Edgewood Properties, commented, "We are excited to welcome Costco and Houlihan's to Parkway 70 Plaza. Brick is currently one of the hottest retail markets in New Jersey and retailers and restaurants alike will be well-served by this landmark project. These new lease signings with Costco and Houlihan's reflect Edgewood's strong commitment to bring the finest retailers to the communities where we invest and develop and we are looking forward to future announcements of similar caliber tenants for this development and other projects as well."
Phil Hatch, vice president of Edgewood's commercial leasing division led in the lease transaction to Houlihan's, while William Lenaz and RJ Brunelli represented the tenant. Ernie Annibale of Northwest Atlantic Partners, served as leasing representative for Costco.
Costco currently operates 452 warehouses, including 334 in the United States and Puerto Rico, 64 in Canada, 15 in the United Kingdom, five in Korea, four in Taiwan, five in Japan and 25 in Mexico. The company also operates Costco Online, an electronic commerce Web site, at www.costco.com and www.costco.ca in Canada.
Established in 1972, Houlihan's Restaurants operates and franchises about 75 casual eateries in 20 states and in Mexico, most of them operating under the Houlihan's Restaurant & Bar name. The restaurants offer a variety of main dishes including burgers, pasta and steaks, as well as several appetizers and salads. The company also operates a small number of other dining concepts including Bristol Bar & Grill, Darryl's, Devon, Chequers, and J. Gilbert's Wood-Fired Steaks.
About Edgewood Properties
Founded in 1992, Edgewood Properties is one of New Jersey's most active commercial and residential real estate development companies and currently is developing in excess of sixty-five projects throughout the state valued at over $10 billion. Edgewood Properties has been designated as redeveloper in many towns and cities throughout New Jersey including New Brunswick, Somerville, Somers Point, Pleasantville, etc. As a private, family-owned company, Edgewood is known for building quality developments that bring jobs, rateables and vitality to each local community.
For more information, please visit the company's Web site at: www.edgewoodproperties.com.
