Somers Point Plaza to Welcome New Target Store
Somers Point Plaza will welcome a new 101,000 SF Target store at the site of the former Kmart in the Somers Point, New Jersey, according to Soloff Realty and Development, Inc. who brokered the transaction. Richard Soloff represented the Landlord Brahin Properties, Inc. headquartered in Philadelphia, PA.
Somers Point Plaza is a 279,026 SF regional Community Shopping Center on 35 acres. It features more than 25 stores including ACME Markets, PetSmart, West Marine, Big Lots, Verizon Wireless, and Chipotle Mexican Grill.
The Kmart store was closed last year when Sears Holdings, the parent company of Sears and Kmart, closed four additional New Jersey stores.
About Brahin Properties: 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.
About Soloff Realty & Development: Soloff Realty & Development, Inc. (SRD) is a privately held, full service commercial brokerage and real estate development firm specializing in the expansion needs of exclusive retail clients in Eastern Pennsylvania, New Jersey and Delaware. SRD also specializes in the development, leasing and sale of free-standing retail properties and shopping centers throughout the Northeast.