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The Raye 51 Route 1
23,356 SF of Retail Space Available in New Brunswick, NJ 08901
Space Availability (1)
Display Rent as
- Space
- Size
- Term
- Rent
- Service Type
| Space | Size | Term | Rent | Service Type | ||
| 1st Floor | 23,356 SF | Negotiable | Upon Application Upon Application Upon Application Upon Application Upon Application Upon Application | TBD |
1st Floor
• Premier Sears redevelopment, including an existing Houlihan's and On The Border Mexican Grill, with 720 future residential units and 19,438 SF of future ground floor retail along Route 1. • Daily traffic count of 108,804 vehicles and rear access to Route 18. • Strong daytime and residential population density along with long-standing national, regional and local operators at the major Route 1 and Route 18 retail intersection. • Approximately 1 mile from Rutgers University New Brunswick and walking distance to Rutgers Cook Campus. • Captured audience, including residents within its project and Rutgers Cook Campus housing located directly behind it contributes to a population of approximately 137,000 residents within 3 miles and an approximate 157,000 daytime population. • Easy accessibility to and from the New Jersey Turnpike interchange, along with convenient access to Route 18 (96,795 vehicles per day).
- 1 mile: daytime population -11,544 | $75,945
- 2 miles: daytime population - 89,955 | $71,403
- 3 miles: 157,205 | $79,586
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing agent for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 51 Route 1 , New Brunswick, NJ 08901
| Property Type | Retail | Construction Status | Proposed |
| Gross Internal Area | 23,356 SF |
| Property Type | Retail |
| Gross Internal Area | 23,356 SF |
| Construction Status | Proposed |
About the Property
This premier redevelopment opportunity features a revitalized Sears location, currently home to Houlihan's and On The Border Mexican Grill, with plans for 720 future residential units and 19,438 square feet of ground-floor retail space along Route 1. The site benefits from a daily traffic count of 108,804 vehicles and convenient rear access to Route 18, enhancing its visibility and accessibility. Positioned at a major retail intersection with strong daytime and residential population density, it attracts a mix of national, regional, and local businesses. Located approximately one mile from Rutgers University New Brunswick and within walking distance of Rutgers Cook Campus, the property serves a captured audience, including residents within the development and nearby Rutgers housing. The surrounding area boasts a population of approximately 137,000 within a 3-mile radius and a daytime population of around 157,000. Additionally, the site offers easy access to the New Jersey Turnpike and Route 18, which sees 96,795 vehicles per day.
-
Gregg Medvin -
Jason Pierson -
Pierson Commercial Real Estate
Presented by
The Raye | 51 Route 1
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