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Civic Plaza Space to be Put Up For Rent

Real estate broker hired

The township council gave its stamp of approval this week to hire a real estate broker to rent out space at Civic Plaza.

Civic Plaza is a former strip mall located on Chambers Bridge Road that is now owned by the township. It had been put up for sale by the township in January but negotiations with a potential buyer fell through, and officials made the decision over the summer to retain the property.

Bids from real estate brokers were hired over the summer, and the township received just one bid, said Business Administrator Scott Pezarras.

A contract to that bidder, DeGeorge Realty in Long Branch, was approved Tuesday.

The contract calls for DeGeorge to be paid a 5 percent commission on leases signed by tenants to rent space in the plaza.

Mayor Stephen C. Acropolis has, in the past, said the building could generate about $400,000 in leasing revenue per year.

can't say who October 18, 2012 at 10:51 AM
Will the Township retain some space? If so will it be at a "0" rate with DeGeorge being allowed t lease the rest?
WMS826 October 18, 2012 at 01:59 PM
Take over more of these strip malls and demolish them to make the town look better and the others worth more.
Anthony October 18, 2012 at 05:28 PM
Nothing "makes the town look better" more than an empty parking lot. Instead of renting them out and making money on them, lets pay someone with our tax money to demolish them, then we can pay to put something else there. Brilliant!
Marina October 19, 2012 at 12:05 AM
DeGeorge.....isn't that the man who's wife owns the "Gold for Sale" business? I don't trust those places. Too easy to fence stoles jewlery.
WMS826 October 20, 2012 at 01:22 AM
No one wants these buildings anymore. We live in the era of CVS and Walmart. Not too many private stores left out there and independent pharmacys are all gone just about. So what do we use these for and if they are so profitable then why are they not maintained and updated. Our area looks like hell with no one keeping after building owners and homeowners alike to fix up.

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