Dollar General Leases At 625 New Road, Somers Point, New Jersey
Dollar General entered into a lease agreement for 7,500 sf at 625 New Road, Somers Point NJ. Richard Soloff of Soloff Realty & Development represented both Dollar General and Somers Point Development Associates, LLC in the transaction.
Dollar General builds and runs convenient sized stores that deliver everyday low prices on a wide variety of household products and other merchandise.
“We are excited about this most recent development in the Brahin Portfolio” said Lee Brahin, CEO of Brahin Properties, “Dollar General is a dynamic retailer that has an aggressive growth strategy and we’re fortunate to be a part of that growth.”
With 23 billion in sales in 2017, Dollar General is one of the nation’s leading dollar discount retailers having over 14,534 locations in 44 states in U.S. To date, Dollar General employees over 129,000 people at its stores.
Brahin Properties is a well-established commercial real estate developer based in Philadelphia that has ownership or management interest in commercial properties in seven states including; Pennsylvania, New Jersey, New York, Maryland and Florida. The majority of the portfolio is comprised of retail properties, such as community shopping centers, but it is a diverse package of investments that includes; office, medical, industrial, residential, self-storage, and a 700-acre mixed use Motorsports Park resort. They are pursuing further growth through initiating asset value enhancement projects, acquisition of existing retail properties and third-party management responsibilities.