PARAMUS, NJ – Retail in New Jersey is making a comeback, according to The Goldstein Group, which has signed exclusive listings on 20 properties throughout New Jersey. Among the projects are: Bi-State Shopping Center in Old Tappan; Essex Mall in West Caldwell; Inman Grove Shopping Center, Edison; and A&P Center in Mahwah.
According to the company’s Website, Bi-State plaza has up to 4,800 square feet for lease; Essex Mall has up to 8,108 square feet for lease; Inman Grove Shopping Center has up to 10,400 square feet available; and A&P Center has almost 3,200 square feet available.
“We are pleased to announce several new exclusive listings agreements,” says Chuck Lanyard, Goldstein president, in the announcement. “We have seen an increase in retailers looking to open stores over the past few months. The activity within our office has increased and numerous deals with national, regional and mom and pop retailers are in the works.”
Also among the properties are Charlie Brown’s Steakhouse restaurants in Fairfield and Matawan, and other projects in Paramus, Englewood, Dover, Newark, North Plainfield, Ocean, Ridgewood, West Long Branch, Blairstown, Woodcliff Lake, Clifton, Secaucus, Flemington, and West Orange.
In its most recent semi-annual vacancy report, released in March, Goldstein Group reported that occupancy is stabilizing in non-mall retail space. As of January, the northern and central portions of the state reported vacancy of 8.12%, compared with 8.16% in July 2010, 8.11% in January 2010 and 8.18% in July 2009.
Areas with the lowest vacancy rate include the Ramsey/Mahway-Route 17 corridor, the Clifton-Route 3 corridor, and the Toms River-Hopper Avenue quarter. The highest vacancy rates were in the East Brunswick-Route 18 corridor; the Totowa-Fairfield Route 46 corridor; and the Livingston/East Hanover-Route 10 corridor.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
