CLARK, NJ—The Township of Clark Planning Board has unanimously approved a 14,000-square-foot shopping center located at the 21-acre mixed use site on Terminal Avenue in Clark, NJ. The center is being developed by Denholtz Associates.
“Today marks an important day in the redevelopment of Terminal Avenue and we are grateful for the support and shared vision that the Township of Clark has for the site,” says Russ Azzarello, vice president at Denholtz Associates. “By working with the town we are confident that this first phase of redevelopment will provide residents with more conveniences and options ultimately enhancing the community in which they live. Strong civic partnerships are immensely important in redevelopment projects like this and we look forward to working with the town and its continued support.”
The approvals are the first step in the planned redevelopment of the property that stretches from Central Avenue to Westfield Avenue, and exemplifies the strategic partnership between the Township of Clark and Denholtz, the real estate firm says. The shopping center will boast a clean, modern design and will be anchored by New York Community Bank and a free-standing Dunkin Donuts featuring a drive thru. The rezoning of Terminal Avenue has broadened the property's range of commercial and retail use and future development opportunities allowing Denholtz Associates to work with the township to enhance local amenities and services for residents.
Denholtz Associates' Clark Commercial Center portfolio consists of 10 commercial buildings totaling 283,201 square feet and one unimproved parcel that Denholtz is evaluating for future development. Stretching an entire block along Terminal Avenue, the Clark Commercial Center is located just off Exit 135 of the Garden State Parkway between Central and Rahway Avenue, and offers easy access to I-78 and the New Jersey Turnpike. The facility is within a short distance of restaurants, banks, hotels and other suburban conveniences.
The Terminal Avenue property has a wide range of tenants including global cosmetics company L'Oreal, leasing more than 190,000 square feet of the portfolio and housing its North American research and development facility on the property. Other major tenants include The Lawbook Exchange, KinderCare Learning Centers, Retro Fitness, and PromptCare.
Denholtz acquired the property in October 2015 in a joint venture with MB1 Capital Partners, a privately held owner and operator of commercial real estate investments based in Belmar, NJ.
CLARK, NJ—The Township of Clark Planning Board has unanimously approved a 14,000-square-foot shopping center located at the 21-acre mixed use site on Terminal Avenue in Clark, NJ. The center is being developed by Denholtz Associates.
“Today marks an important day in the redevelopment of Terminal Avenue and we are grateful for the support and shared vision that the Township of Clark has for the site,” says Russ Azzarello, vice president at Denholtz Associates. “By working with the town we are confident that this first phase of redevelopment will provide residents with more conveniences and options ultimately enhancing the community in which they live. Strong civic partnerships are immensely important in redevelopment projects like this and we look forward to working with the town and its continued support.”
The approvals are the first step in the planned redevelopment of the property that stretches from Central Avenue to Westfield Avenue, and exemplifies the strategic partnership between the Township of Clark and Denholtz, the real estate firm says. The shopping center will boast a clean, modern design and will be anchored by
Denholtz Associates' Clark Commercial Center portfolio consists of 10 commercial buildings totaling 283,201 square feet and one unimproved parcel that Denholtz is evaluating for future development. Stretching an entire block along Terminal Avenue, the Clark Commercial Center is located just off Exit 135 of the Garden State Parkway between Central and Rahway Avenue, and offers easy access to I-78 and the New Jersey Turnpike. The facility is within a short distance of restaurants, banks, hotels and other suburban conveniences.
The Terminal Avenue property has a wide range of tenants including global cosmetics company L'Oreal, leasing more than 190,000 square feet of the portfolio and housing its North American research and development facility on the property. Other major tenants include The Lawbook Exchange, KinderCare Learning Centers, Retro Fitness, and PromptCare.
Denholtz acquired the property in October 2015 in a joint venture with MB1 Capital Partners, a privately held owner and operator of commercial real estate investments based in Belmar, NJ.
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.
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].
