By Laura D.C. Kolnoski
FORT MONMOUTH – Upgrades, expansion and added amenities are planned for Fort Monmouth’s shuttered bowling lanes following approval of a new purchaser by the Fort Monmouth Economic Revitalization Authority (FMERA) May 23.
Officials are “excited” the high-profile 2.8-acre parcel along Route 537 (Avenue of Memories) in the Eatontown section of the fort has found a second buyer after a previous interested party withdrew its offer to buy the site last year.
Parker Creek Partners of Rumson will pay $1.35 million for the site and the 17,500-square-foot red brick bowling building. The new entity will bring in advisors from Brunswick Bowling to help create a “bowling entertainment center.” Brunswick, which will provide the equipment and technology, will also advise on the planning, redevelopment and operation of the facility, officials said.
The purchase arrangement, termed a “ground lease” of the land from FMERA, makes the lessee potentially eligible to obtain a special concessionaire permit from the state Division of Alcoholic Beverage Control to serve alcohol on the premises. According to FMERA documents, Parker Creek Partners (PCP) intends to develop the property in one or more phases for commercial, recreational, entertainment and retail uses. Plans are to renovate the building and its kitchen and add a bar, bocce courts, pool tables, shuffleboard tables, darts and a stage. The structure will be expanded by up to 10,000 square feet. The new owners’ investment is projected at $5.2 million.
PCP is led by James Wassel, a real estate developer and consultant with over 35 years’ experience in the restaurant and hospitality industries. Wassel said his Rumson-based Wassel Realty Group has worked with Marriott and Hilton hotels, as well as New York’s South Street Seaport and historic Faneuil Hall in Boston. Advising PCP in the endeavor is Ralph Ayles of Shore Lanes on Route 34 in Neptune City. The Ayles family has owned Shore Lanes since 1985 and been in the bowling business since 1954.
“Bowling is the No. 1 family entertainment activity in the United States,” said Wassel, who had been researching various Fort Monmouth projects for potential investment. “The building is in good shape and it is well located. A bowling center is a little more unique than some of the other fort redevelopment projects. It will be a family and adult entertainment center focused on participation. We want people to come out, get up and have fun.” The concession would have sports bar theme, he added.
Readers may recall Wassel from his proposal to renovate and commercially develop more than 36 buildings at the historic Fort Hancock on Sandy Hook. Despite obtaining approvals in 2009, after years of contention and delays, including a federal court case, his lease was terminated.
“During one of the country’s worst financial times, we were given only 45 days to obtain all financing,” he said. “We had $65 million but needed a 35-day extension for our equity partners, which was denied.” He said some government officials opposed to his proposed Fort Hancock project “worked to keep financing away from us.”
But that was then, and this is now. The next step for PCP on Fort Monmouth, Wassel said, is to refine their plans and construction schedule prior to bringing them before the Eatontown municipal government.
“The new owners want to make the building as amenity-friendly as possible to appeal to the largest possible audience,” said Bruce Steadman, FMERA executive director. “Like other modern bowling centers around the country, while retaining core bowling enthusiasts, these enterprising entrepreneurs want to appeal to other audiences.” Steadman said the bowling center will join other “exciting entertainment options” now in private hands on the fort, including the microbrewery in the fort’s former Dance Hall currently under construction, and the arts community that will occupy six former barracks buildings.
“These will provide a variety of activities for all ages and tastes, as well as those who are and will be living at the fort,” he said.
Parker Creek Partners must create 22 permanent, full-time and/or part-time jobs at the property within 12 months of the project’s completion or pay a penalty of $1,500 for each job not created as per FMERA rules.
“We’re trying to hurry this project along and get it to close this year,” said acting FMERA chairman Robert Lucky.
