NEWARK, NJ—Real estate development law firm Chiesa Shahinian & Giantomasi and Jones Lang Lasalle are shopping a proposal for Iberia Ironbound, a 5.2-acre mixed-use, transit-oriented development site located in Newark's vibrant Ironbound neighborhood.
The site, the largest contiguous development parcel to become available in the Ironbound in recent memory, is being offered for development and investment opportunities. One likely tenant in whatever mixed-use project is ultimately built is likely to be another grocery store, the JLL executive involved in the project believes.
"Working off of being close to transportation and Ferry Street, the main entertainment and retail corridor for that area, there's a high likelihood that you'll find an urban footprint grocer," Tom Walsh, executive vice president at JLL, tells GlobeSt.com exclusively. "There are 60,000 people in that neighborhood and no national grocer. You have Whole Foods going in downtown, but it doesn't have the population density that the Ironbound does."
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
