Smoothie King
Smoothie King
Avenel & Edison, NJ
Assignment
NAI DiLeo-Bram & Co.’s (NAIDB) Kelly Bayer, Associate Vice President, was retained by Smoothie King for the identification of two new franchise locations within Middlesex County, NJ.
Smoothie King, which is headquartered in Dallas, has been a growing restaurant chain fueled by its fruit-based frozen drinks and franchising over the past 10 years, according to Forbes. In 2021, emerging from the pandemic, Smoothie King reported a 16.5% increase in sales over 2020. During 2022, the company continued its steady growth trajectory with a projected 10% expansion rate slated for 2023. To meet its goals, NAIDB is assisting Smoothie King identify additional locations statewide.
Solution
NAIDB identified viable markets and high-vehicle-traffic-count corridors in the region for potential new retail locations that met the Smoothie King corporate and franchisee requirements. Utilizing important data analysis related to a wide range of retail-specific metrics, including daily foot and vehicle traffic, household income and residential and daytime population, an effective real estate strategy was created and executed.
Specifically, U.S. Route 1 – the highest-traveled road in Northern Middlesex County and one of the most-traveled thoroughfares in the state – was targeted and potential locations were identified by NAIDB. In addition to serving as the region’s primary business corridor, Route 1 features a high concentration of local, regional and national retailers, the Woodbridge Center and Menlo Park Malls, and easy interstate, statewide and local roadway access points. These include the Garden State Parkway (1 mi.), U.S. Route 9, NJ Route 35, and the NJ Turnpike.
In addition, the area of focus has excellent NJ Transit bus service – offering a vital link to the local workforce and suburban commuters.
Result
NAIDB identified two excellent opportunities along the US Route 1 corridor in Avenel, a CDP within Woodbridge (908 US Highway 1 North), and in Edison (691 US Highway Route 1 South). The following details the lease agreement terms for each:
Avenel, NJ [New Construction]
• Address: 908 US Route 1 North
• Lease Size: 2,223 SF
• Commencement: January, 2022
Edison, NJ
• Address: 691 US Route 1 South
• Lease Size: 21,000 SF
• Commencement: May, 2022
