NEW JERSEY—Colonial American Bank has signed a lease to take space at Shrewsbury Plaza, a 225,000-sq.-ft. shopping center in Shrewsbury, N.J. The location will be the bank’s second in New Jersey and is slated to open this spring.

National Realty and Development Corp. owns the property, which includes other tenants such as Marshalls, Acme and AC Moore.

Founded more than 50 years ago, NRDC’s portfolio comprises over 22 million sq. ft. of real estate assets, consisting of large retail power centers, grocery-anchored community shopping centers and corporate/ industrial business parks.