Denholtz Properties on Tuesday said it named Pierson Commercial as the exclusive retail leasing brokerage for The Rail @ Red Bank, the company’s transformative mixed-use ground-up development project in Red Bank’s West Side neighborhood. Gary Krauss, director at Pierson Commercial, will handle the leasing for the property’s 7,300 square feet of ground-level retail space.
Established in 2011, Pierson Commercial is widely regarded as one of the state’s premier retail commercial real estate brokerage and advisory firms. Pierson Commercial’s retail leasing and property marketing assignments span over 4 million square feet of retail space across major downtown redevelopments, ground-up new construction and existing retail shopping centers throughout northern and central New Jersey. Denholtz Properties will leverage Pierson Commercial’s experience and deep market knowledge to attract unique and in-demand businesses to The Rail’s retail space.
“In today’s challenging retail market, every aspect of the retail transaction has become more difficult and complex,” said Kristine Hurlbut, senior vice president, Leasing for Denholtz Properties. “However, Pierson Commercial stands out for their ability to close deals on behalf of owners and tenants alike throughout the COVID-19 pandemic within many Downtown New Jersey mixed-used developments. We look forward to working with Gary Krauss and the Pierson Commercial team as they help us bring dynamic and in-demand businesses to this growing neighborhood.”
Currently nearing the final stages of construction, The Rail @ Red Bank’s combination of 57 luxury residential units, a robust amenities package, and flexible ground-level retail space will bring a diverse mix of new residents, businesses, and visitors to the borough’s burgeoning West Side neighborhood. Reflecting their deep commitment to the area, Denholtz Properties relocated its corporate headquarters to the adjacent 30,000-square-foot office building at 116 Chestnut Street last year. With the scheduled completion of The Rail @ Red Bank in 2021, Denholtz Properties will continue to build upon its vision to bring tangible, long-term economic growth to the area surrounding the Red Bank train station.
Krauss added, “Red Bank has long been known for its vibrant downtown – it’s been named ‘the hippest town in New Jersey.’ Cutting-edge projects like The Rail@ Red Bank are already bringing new energy to the West Side of town, with the well-known Sickles Market recently opening one block north of us by way of example. The Rail @ Red Bank offers businesses the rare opportunity to get in on the ground floor — at ground zero — in the Borough’s next hot neighborhood. Thanks to Denholtz Properties for choosing our team, we look forward to working with them to create an economic catalyst for Red Bank and the surrounding market.”
Currently, The Rail @ Red Bank has approximately 6,700 square feet of retail space remaining available. Melonhead, a juice, smoothie and acai bowl shop, was the first retail tenant to sign a lease at The Rail @ Red Bank. The lease was signed in the late summer for approximately 600-square-feet just steps from the Red Bank train station platform.