Hazlet Town Center Keeps Growing: 3 New Occupants, Exterior Updates

HAZLET, NJ — Hazlet Town Center on Route 35 and Bethany Road is nearing full occupancy with the recent signing of three new leases, totaling 9,614 square feet, according to its leasing agent.

The approximately 200,000-square-foot Hazlet Town Center’s newest tenants include K-Pot Korean BBQ (7,014 square feet), The UPS Store (1,600 square feet) and Underground Nutrition (1,000 square feet), according to an update from the company.

Pierson Commercial Real Estate, headquartered in Marlboro, is the leasing agent for the retail center. The company says these businesses bring occupancy to 92 percent at Hazlet Town Center. Plus there are exterior and parking lot improvements underway, all part of a five-year renovation plan.

“These newest Hazlet Town Center tenants are a wonderful addition to the center, where each is providing important services and/or products that cater to the tastes and needs of visitors and consumers,” said Gregg Medvin, vice president of Pierson Commercial who is leading the leasing team.

Located at the intersection of Route 35 and Bethany Road, the shopping center was acquired as a joint venture between Onyx Equities LLC and Siguler Guff & Co. in 2016. Since its acquisition, it has been "rebranded" as Hazlet Town Center and has undergone an extensive five-year renovation, owners say.

Completed enhancements include facade renovations, the addition of new landscaped green space, lighting modernization, and new signage. This winter’s capital improvements will include further exterior updates and paving improvements to the center’s parking lot, the leasing agent said in a news release.

Executives at Onyx and Pierson weighed in on the progress at Hazlet Town Center:

“Though it was only 25 percent occupied when we acquired the property, we saw great potential in this location,” said Matthew P. Flath, vice president of asset management at Onyx Equities of Woodbridge. “Hazlet Town Center is uniquely located at a highly trafficked intersection with multiple means of access, including Bethany Road, and is supported by an extremely high-density residential population nearby."

According to Pierson Commercial’s Medvin, “In addition to being near the Garden State Parkway, there is a residential population of approximately 70,000 people and a daytime population of approximately 62,000 people within three miles of Hazlet Town Center, not to mention connectivity to many residential communities within Hazlet and Holmdel. These factors are some reasons the Route 35 corridor is considered a top-tier retail artery in New Jersey."

Located at 3010-3070 Route 35, the center initially brought in Aldi and Burlington stores as the center’s anchor tenants.

Hazlet Town Center’s tenant mix now includes Urban Air Adventure Park; Planet Fitness; a Panera offering indoor/takeout dining and a drive-thru; Gamestop; Wawa; Sally Beauty Supply; Subway; Bubbakoo’s Burritos; CoCo Fresh Tea & Juice; AT&T; Bank of America; Hazlet Family Dental; Great Clips and Quest Diagnostics. According to Medvin, there are divisible spaces remaining for 1,210 to 9,500 square feet.

Established in 2011, Pierson Commercial, headquartered in Marlboro with an office in New York City, is a retail-focused commercial real estate brokerage and advisory firm providing acquisition, disposition and leasing services.

Headquartered in Woodbridge, Onyx Equities is a full-service real estate firm specializing in investment, asset repositioning and ground-up development.