7 tenants set in place to occupy new College Avenue development in August
Seven businesses have signed leases to become tenants at The Yard @ College Avenue, one of the $300 million College Avenue Redevelopment Initiative projects, which is currently under construction at the corner of College Avenue and Hamilton Street across from Scott Hall, according to a press release from Pierson Commercial Real Estate.
The former site of Lot 8, which used to house a wide variety of the University’s famous grease trucks, will welcome seven new tenants when the College Avenue complex opens in August 2016: Starbucks Coffee, honeygrow, Bella’s Burger Shack, RU Hungry, House of Cupcakes, Jersey Mike’s Subs and Krispy Pizza.
“We are extremely excited with obtaining these best-in-class tenants for our high-profile project,” said Jason Pierson, president of Pierson Commercial, in the press release. “Pierson, in partnership with DEVCO ... selected a unique mix that we felt would be attractive to the Rutgers University students, staff, faculty and the broader community.”
The Yard @ College Avenue will be a “state-of-the-art mixed-use” development including on-campus housing for 550 students, about 14,000 square feet of retail space and an interactive open-pavilion park featuring a 350-square-foot LED monitor to watch live and pre-recorded programming in an open setting, according to a press release from the New Brunswick Development Corporation (DEVCO).
Originating from its first-ever location in Point Pleasant Beach, New Jersey, the new Jersey Mike’s Subs location in the former Lot 8 complex will donate all sales from its opening week to charity, according to the press release from Pierson Commercial Real Estate.
The Yard @ College Avenue lease signings also mark the return of the RU Hungry grease truck, which was just ranked the No. 1 college town “Drunken Eats” destination in the United States by BuzzFeed. It will return to what was once Lot 8 to operate their business in their new 1,062-square-foot location across from Scott Hall, according to the press release.
The College Avenue Redevelopment Initiative is also scheduled to open the first new Rutgers Academic Building on the College Avenue campus in 50 years, according to DEVCO’s website. The new facility is expected to open in August 2016 and will include lecture halls, small and large classrooms, as well as faculty offices and student learning spaces.
The Initiative also included the development of The Honors College at Rutgers—New Brunswick, which opened this past August and is located at 5 Seminary Place. DEVCO completed the first phase of the Initiative in September 2014 with a new edifice for the New Brunswick Theological Seminary located at 35 Seminary Place.
“We are thrilled to have these businesses join this transformational project and further showcase New Brunswick as one of America’s most exciting college towns,” said Christopher Paladino, president of DEVCO, in the press release. “This project, combined with Rutgers’ entrance into the Big Ten Conference, is placing the University among the top-tier academic institutions nationwide.”