Cushman & Wakefield of New Jersey, Inc.
One Meadowlands Plaza, Suite 1100
East Rutherford, New Jersey 07073
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Release Date: Thursday, August 14, 2014
Media Contact: Evelyn Weiss Francisco (201) 796-7788
Tenant Interest Reflects Surge in Demand for High-End Supply in Regional Market
EAST RUTHERFORD, N.J., August 14, 2014 – Three new leasing agency assignments for Cushman & Wakefield’sGarden State retail team reflect the diversity of high-end supply in the region, where upscale tenants continue to seek opportunities to secure quality, well-located space, according to Nancy Erickson, director. The projects span the Northern New Jersey market, in Morris, Essex and Hudson counties.
In Chester, Erickson and her colleagues Jennifer Sofia and Kelly Calamia are heading an effort to refine and enhance the tenant mix at The Streets of Chester Shopping Center, a 104,000-square-foot lifestyle center located at 207 U.S. 206 South. The upscale property already serves as home to White House/Black Market, Chicos, Gap, Banana Republic, Ann Taylor, Talbots, Charming Charlie’s, Country Curtains, Plow & Hearth and Elements Salon, in addition to several other national brands.
In Montclair, the team has been selected to market the retail component at Valley & Bloom, a prominent mixed-use redevelopment under construction at 638 Bloomfield Ave. The project will include 25,500 square feet of street-level retail space, along with multifamily and professional office components in two buildings.
The team also is marketing 12,000 square feet of street-level retail at Newport’s 499 Washington Blvd. in Jersey City. The 600,000-square-foot office tower is located in Newport, the well-known, 300-acre mixed-use Hudson River waterfront development.
“These are three very different projects in three distinct markets, yet they all sit in densely populated, higher-income neighborhoods with excellent daily traffic counts,” Erickson said. “These attributes cater perfectly to an active group of regional and national retailers looking to establish or expand their footprints in New Jersey.”
Erickson noted that the most active tenant groups at properties catering to upscale demographics include sit-down casual dining; specialized fitness such as rowing and spinning; preschools; and health and beauty including emerging concepts like franchise massage and blow dry bars.
“We are in discussion with close to one dozen retailers interested in breaking into our market by leasing at one – or more – of these three properties,” Erickson said. “Our clients are enjoying this renewed momentum and the opportunity to create fresh tenant mixes that will distinguish and drive traffic to their projects.”
Cushman & Wakefield’s New Jersey retail practice represents nearly two dozen New Jersey retail properties totaling more than 250,000 square feet. As tenant representatives, the team also works with a range of regional and national tenants including Hess, Cabela’s, Empire-Today, Tom+Chee, AT&T, Project Pie, ASAP Urgent Care, Monkey Joe’s, Kool Smiles/Benevis, Cool de Sac, among several others.