Home Depot store signs NJ lease

Real Estate Weekly, Nov 10, 2004

Garden Commercial Properties has recently signed a lease agreement with Home Depot at Cambridge Square located in Monmouth county's Marlboro township.

The new facility will occupy 114,000 s/fat the complex that formerly housed a Kmart Department Store, according to Scott Loventhal, director of development at the Short Hills-based development company.

Once completed, Home Depot will join a roster of tenants at the 233,000 s/f Cambridge Square that includes a World Class ShopRite, Blockbuster Video and TGI Fridays.

"Home Depot was searching for an established retail outlet that offered space in which they could introduce one of its popular 'do-it-yourself' retail centers," Mr. Loventhal said.

"The anchor building vacated by Kmart at Cambridge Square was the perfect opportunity."

"Here, they were able to modify the existing structure, reconfigure the design and construct a customized facility that met their specific needs and requirements."

Cambridge Square's high-volume location at the intersection of Highway 9 and Union Hill Road has made it a popular destination for some of the country's most recognizable retail outlets.

"Cambridge Square is situated amongst the fast-growing residential communities of Marlboro, Holmdel and Colts Neck," Mr. Loventhal said. "It's also ideally located minutes from Route 18, 33, and the Garden State Parkway."

A subsidiary of Garden Homes, Garden Commercial Properties is a major developer of shopping centers throughout New Jersey.