Belleville Retail Complex Lands 1 Big Tenant, Seeks 2 Other Restaurants

BELLEVILLE, NJ — Chipotle is on board, but negotiations continue with two other national retailers as developers seek to fill space at a mixed-use complex in Belleville.

Last week, JLL Capital Markets announced that it has secured construction financing for 11 Franklin Avenue on behalf of the borrower, Tulfra Real Estate and the Hampshire Companies. The amount of the floating-rate loan – acquired through First Bank – wasn’t disclosed in a news release.

According to the firm, the property was acquired as part of the Roche Diagnostics Redevelopment Area, an 18.7-acre parcel in Belleville.

The first building opened in October 2022 and is fully leased to Starbucks. The second building will house three restaurant tenants.

Chipotle has executed a long-term lease, while negotiations continue with two other “national retailers,” JLL Capital said.

“This property’s prime location featuring excellent visibility and access to major roadways in one of Essex County's most dynamic retail corridors – combined with a strong tenant roster including national brands like Starbucks and Chipotle – made this an attractive financing opportunity,” said Ryan Carroll, a director with JLL Capital.

• See Related: Progress Made On New Chipotle Restaurant In Belleville

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