TFE Properties is expanding its portfolio in Brick with the acquisition of a nearly 103,832-square-foot shopping center.

Located at 159 Van Zile Road in Brick Township, Bonefish Grill and McDonalds anchor the The Shops at Brick. According to the East Windsor-based buyer, plans are in the works for exterior renovations at the site. Financial terms of the deal were not available.

The property marks the fifth in Brick added to TFE’s portfolio. JLL Capital Markets Senior Managing Director Kevin O’Hearn and Executive Vice President Joseph Lopresti represented the out-of-town seller and buyer, an affiliate of TFE Properties.

TFE Properties President Carey Tajfel said there’s a reason the company keeps coming back to the Ocean County municipality. “It’s a town that is continuously growing and evolving,” he said. “It’s exciting to be a part of.”

The real estate and land development company’s other Brick properties include Starbucks, Fortunoff Plaza and Boulevard at Brick apartments along Brick Boulevard, as well as a medical/professional office building on Chambers Bridge Road.

According to TFE, several spaces are available for lease at The Shops at Brick, including anchor and junior anchor opportunities. The property’s occupancy rate at the time of sale was about 50%, a representative for TFE told NJBIZ.

The Brick shopping center is less than 4 miles from Exit 88 off the Garden State Parkway. The location between Route 70 and Van Zile Road offers respective vehicle per day counts of 40,000 and 23,000.

The plaza offers abundant on-site parking. Additionally, it is within walking distance of approximately 4,000 people, according to the buyer.

“We’re excited about this addition to our portfolio,” added Tajfel. “The Shops at Brick is in the heart of Brick Township, a strong community with high income levels and great demographics. We also plan to renovate the façade to give it a fresh clean modern appearance to help the center reach its full potential and align with our high company standards.

“That, combined with its prime location off two major roadways while being within walking distance for many people will be important factors for future tenants,” Tajfel said.