RED BANK AND TOMS RIVER, NJ – Bruce Theuerkauf and Lisa McMahon have arranged $5,550,000 in financing for three retail properties located in Red Bank, New Jersey.

The first property is a portfolio consisting of four multi-tenanted mixed-use office and retail properties, and one single tenant office property, totaling 42,182 square feet. The properties are located within a short drive of the Garden State Parkway and other regionally important thoroughfares including West Front Street and CR-11. The first portion of the portfolio consists of two multi-tenanted retail buildings totaling 21,295 square feet.  The largest tenant, CSC Red Bank Cinema is signed to a long-term lease. The second part consists of a single-tenant space leased to Charles Schwab, who has been a tenant at the property for over 17 years. The final portion consists of two buildings for a combined 15,961 square feet of retail and office space, of which most occupants have been at the property for over 10 years.

The second property consists of a 12,153 square foot retail building located at 1726 Route 37 E in Toms River, New Jersey. The subject is leased to Rite Aid, Inc., and was formally run as an Eckerd drug store.

The final property in the Red Bank portfolio is a 34,668 square foot retail center located along Water Street in Red Bank, New Jersey. The largest tenant – Rite Aid of New Jersey – at 10,508 square feet is signed to a long term lease. Rite Aid has impressive sales figures at this location. The remainder of tenant spaces ranges in size from 512 square feet to 2,473 square feet. In addition, one of the Subject’s smaller tenants by size, Dunkin Donuts, also performs well at this site. Beyond retail space, the Subject also features 13,182 square feet of storage space that was rebuilt as a mini-storage facility that is leased to a variety of users.

Rite Aid Corporation is one of the nation's leading drugstore chains. With the June 4, 2007 acquisition of Brooks Eckerd, the company has annual revenues of more than $27 billion, over 5,000 stores in 31 states and the District of Columbia, with a strong presence on both the East and West coasts, and approximately 116,000 associates. Rite Aid is the largest drugstore chain on the East Coast and the third largest drugstore chain in the U.S.

Red Bank serves as the commercial center of the eastern Monmouth County region, comparable in this respect to Westfield and Summit in Union County, Milburn in Essex County and Ridgefield in Bergen County. The nearby communities of Rumson, Holmdel, Tinton Falls, and Little Silver, affluent bedroom communities of Manhattan, are primarily residential in nature. Red Bank offers the area’s best dining, shopping, and entertainment and is home to a sizable professional office market.