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.