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WOODBRIDGE, NJ-Retail leasing in north and central New Jersey is up in all categories, with dollar stores and gas-and-convenience stores performing the best, according to Fameco Real Estate
Steven Winters of the firm’s Woodbridge office recently completed three Dollar Tree lease deals for shopping center landlords. One was in Mansfield for Professional Consortium, another in Toms River for K. Hovnanian Industries, and a third in Holmdel for Kimco at its town center in that community.
“We’ve been successful in creating value for landlords and developers in all center types, from big box to grocery anchored, and from convenience-oriented strips to free standing parcels,” said Winters, who worked with colleague Mike Horne on the Holmdel lease.
Gas/convenience stores, such as Wawa, continue to make inroads into the northern part of the state, the broker said. In Woodbridge, Winters and Carlo Caparruva, represented Wawa in securing a 1.5-acre ground lease. In Elizabeth, Winters and Caparruva arranged a 1.5-acre land acquisition for Wawa and its developer at the intersection of Routes 1/9 and Fairmount Avenue.
New developments are leasing well, too, according to Fameco’s brokers. In Bergen County, Winters and Jeffrey Cohen, a partner in the real estate company, are handling leasing at Teterboro Landing, a new, mixed-use development with 425,000 square feet of retail space located across from the Teterboro Airport.
The brokers said they expect to have anchor tenants signed by early summer.
Other recent lease deals include: Hand & Stone, GNC, Great Clips and C2 Education for space at Regency Center’s Plaza Square in Wayne; Country Curtains, Plow & Hearth, and Elements Therapeutic Massage taking space at Streets at Chester in Chester; Massage Envy and Scottrade signing at Crossroads Center in Toms River, the former Dover Mall, now in the midst of redevelopment
In addition to its 3 million square foot leasing portfolio, Fameco’s Woodbridge office also represents national retailers including Walmart, Sam’s Club, LA Fitness, AutoZone, Staples, Shoe Dept. and Buffalo Wild Wings.
The firm is the exclusive representative for over 250 shopping centers and retail properties totaling 20 million square feet, manages more than 12 million square feet of retail space and exclusively represents more than 75 retailers expanding in the tri-state area