93,000-SF Center To Get Upgrade

OLD BRIDGE, NJ-The Lightstone Group is getting ready to launch a major renovation of its Browntown Shopping Center, a 93,250-sf strip on Route 516 here. The specific cost hasn’t been released, but company officials term it “a multi-million-dollar” project. The center, which dates to the early 1960s, was acquired in 2003 from the estate of Saul Cantor as part of a three-center portfolio for $20 million.

“This reflects our continued reinvestment in our existing portfolio,” says Jeffrey Dash, VP of retail leasing and management for the Lakewood, NJ-based Lightstone Group. The renovation will include a general building facelift and enhanced lighting, parking and landscaping, according to Dash.

Long-time major tenants New York Sports Club, Drug Fair and Wendy’s remain in place as the property’s anchors. Browntown Shopping Center is currently listed on Lightstone’s website with a total availability of approximately 6,100 sf.

“We plan to also remodel the interior and exterior of our store as well,” says Timothy LaBeau, president and CEO of Drug Fair, a regional Somerset, NJ-based chain with 40 stores in New Jersey. The other two centers acquired from Cantor in 2003, Millburn Mall in Vauxhall, NJ, and Newbridge Shopping Center in Bergenfield, have both also subsequently undergone major renovations.