Ocean County, New Jersey (05/18/2026) – TFE Properties is pleased to announce the acquisition of two former Rite Aid properties located in Ocean County, New Jersey.
The acquisitions include a former Rite Aid property in Manchester Township, NJ, and another in Lacey Township, NJ. Both highly visible retail locations offer strong redevelopment and leasing potential in growing commercial corridors.
The Manchester Township property features a freestanding 11,206-square-foot building situated at the signalized intersection of Route 70 and Ridgeway Road. The site benefits from exceptional visibility and accessibility, with Route 70 carrying approximately 26,000 vehicles per day and Ridgeway Road supporting approximately 16,000 vehicles per day. The surrounding trade area has experienced significant residential and commercial development, further enhancing the long-term value of the asset.
The Lacey Township acquisition consists of a vacant 10,908-square-foot former Rite Aid situated on approximately 1.76 acres at the corner of Route 9 and South Main Street, a signalized intersection in one of the township’s primary retail corridors, traveled by approximately 26,000 vehicles per day. Zoned Commercial C-150, the property offers strong visibility, access, and flexibility for a wide range of retail and commercial uses.
“These acquisitions represent another step in TFE Properties’ continued investment strategy focused on well-located retail assets with strong redevelopment and repositioning opportunities,” said Carey Tajfel, President of TFE Properties. “Both sites are located within growing Ocean County communities and offer excellent frontage, traffic exposure, and long-term value.”
TFE Properties plans to actively market both locations to retailers, medical users, service-oriented businesses, and other potential tenants seeking high-traffic locations in Ocean County.
For press inquiries and more information about TFE Properties, please contact Jenny Halat at (609) 632-0006 x8518 or [email protected].
About TFE Properties: TFE Properties is a real estate and land development company based in East Windsor, New Jersey. Best known for diverse offerings in nearly all asset classes, exceptional quality, and hands-on management, TFE Properties develops strategically located commercial and residential properties from the ground up, in addition to purchasing existing properties with opportunity to create value. The company’s primary areas of focus include retail centers, single net tenants, hotels, office buildings, apartment complexes, storage facilities, and land development. For more information, visit www.tfeproperties.com.
NEWLY RENOVATED Hilton Garden Inn Lakewood RE-OPENS Modern, Distinctive Design With Tech-Savvy Features
Lakewood, New Jersey (May 6, 2025) – TFE Properties, Inc. is proud to announce the grand re-opening of the newly transformed Hilton Garden Inn located on Route 70 in Lakewood, New Jersey. The recently completed $5 million floor-to-ceiling renovation includes an overhaul of all guest rooms and suites, the lobby, meeting rooms, indoor pool, and all hotel common areas, including the fitness center and an onsite restaurant.
The exterior of the 110-room hotel has been freshly painted with a modern color-block palette, providing a serene, welcoming feel before guests step foot in the lobby. “We’re excited to celebrate the re-opening of the Hilton Garden Inn Lakewood,” says Carey Tajfel, President of Hotels Unlimited. “The hotel’s location right off the Garden State Parkway makes it the perfect choice for corporate and leisure travelers, as well as vacationing families who want easy access to local attractions in the area including the Jersey Shore and boardwalks.”
The Hilton Garden Inn Lakewood’s renovations were designed with conveniences for the modern traveler. Guests love the modern, functional design of the furniture, especially the guestroom headboards with built-in electronic connections and individual reading lights. As one guest praised, “This is the place to stay on your trip to the Jersey Shore. Attention to customer satisfaction and courtesy is a priority.”
Guests have been praising the new look to hotel staff, commenting specifically on the fresher and brighter appearance of the public areas and how modern the guest rooms look. The hotel’s public areas also include an expanded outdoor deck and pergola. Guests are also loving the new indoor pool area and expanded fitness center, with state-of-the-art workout equipment.
General Manager of the Hilton Garden Inn Lakewood, Michael Ramos, remarked, “We are seeing so many more guests taking advantage of these great spaces!” Michael Ramos adds, “I am very excited to be putting the finishing touches on this outstanding hotel renovation. Our team members are so proud of our all-new hotel, and they take great pride in keeping it beautiful and comfortable for all our guests.”
Members of the press interested in attending the upcoming re-opening celebration are invited to contact Carmelita Carreon, Social Media Coordinator, at (609) 632-0006 x8561 or [email protected]. For corporate and group rate inquiries, please contact Debbie Pizzola, Executive Director of Sales, at (609) 578-0138 or email [email protected]. For hotel reservations, please visit www.lakewood.hgi.com or call the hotel directly at (732) 262-5232. Hotels Unlimited, Inc., established in 1990, includes 9 hotels in locations throughout New Jersey affiliated with Holiday Inn®, Holiday Inn Express®, Radisson®, DoubleTree®, Hilton Garden Inn®, Days Hotel®, and Sheraton®.