Retail Vacancies in Central Jersey Hit 10-Year High

APP ran an article last week about a recent annual survey of retail vacancy rates in Central Jersey. The region has reached a ten-year high at 9.8% vacancies. The hard hit commercial corridor along Route 35 between Aberdeen and Brielle has 60% more vacancies than last year, attaining 11.9% vacancies this spring after last year's rate of 7.4%. The Route 18 corridor at East Brunswick remains the highest in the region at 13.5%, despite a marked improvement over last year's 18% vacancy rate. The article blames the increase on the loss of big box stores, mentioning Linen's & Things in Holmdel, a Dodge dealership in Hazlet, and 84 Lumber in Cliffwood as some of its examples. Signs of life include more dollar stores (sigh) and a new lease by Top Tomato, which is moving into the Holmdel spot vacated by Linens & Things. The article doesn't mention the surprisingly popular Goodwill Store that has replaced the Eckert Drugs in Cliffwood.