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Blue Foundry Bank, Kessler Rehabilitation Center to Service Mixed-Use Development, Surrounding Community
The Nell, November 2022
DUNELLEN, N.J. (Nov. 28, 2022) — The first two commercial tenants have committed to space at Prism Capital Partners’ The Nell at Dunellen Station, 100 South Washington Ave. in Dunellen. Blue Foundry Bank and Kessler Rehabilitation Center leased a combined 5,595 square feet at the mixed-use, transit-oriented development.
Jeffery Realty’s Steve Battista brokered the transactions as exclusive retail leasing agent for The Nell’s approximately 9,300-square-foot, free-standing retail component. The property also features 252 highly amenitized, luxury one- and two-bedroom residences under construction; Prism’s on-site residential leasing office is slated to open imminently. K. Hovnanian Companies is developing 130 for-sale townhouses on the site as well.
“We are proud to partner with two well-respected brands to provide essential services to the residents of The Nell and the town of Dunellen,” said Robert Fourniadis, Prism’s senior vice president, residential. “This multifamily-and-retail development has been carefully planned to be a valuable contributor to the community, and bringing in quality commercial tenants is integral to achieving this goal.”
The Nell’s retail building sits directly across from the Dunellen train station, incorporating a transit theme designed by Spiezle Architectural Group. Fourniadis noted the building’s remaining 3,700 square feet of divisible space is ideal for retail use. “An independent coffeehouse, restaurant or local convenience store catering to commuters and residents looking for grab-and-go options would be a welcome addition to the neighborhood,” he said.
New Jersey-based Blue Foundry Bank’s new, 2,725-square-foot Dunellen branch will offer personal and business banking, including the convenience of drive-through service. Kessler Rehabilitation Center, which leased 2,870 square feet for a physical therapy practice, is the highest-ranked rehabilitation hospital in the New Jersey-New York metropolitan area.
Nutley, N.J.-based Prism Capital Partners is an established leader in the redevelopment and adaptive reuse arena. The privately held owner/operator’s current Garden State multifamily projects also include Avenue & Green, a mixed-use, transit-village community in Woodbridge; Wonder Lofts, the conversion of the former Wonder Bread factory site on Clinton Street in Hoboken; and Edison Lofts, the redevelopment of Thomas Edison’s historic Invention Factory and Commerce Center campus in West Orange.
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