In the largest of the signings, international grocer Aldi Inc. has signed a 10-year lease for 18,000 sf to co-anchor the property. Further terms were not released. For Aldi, the deal marks the second signing in New Jersey in recent weeks. In January, the chain leased 17,000 sf as co-anchor of the 87,000-sf Rockaway Commons in Rockaway.
In the other deals, South Jersey Medical Supply, a retailer specializing in durable medical equipment and supplies, signed a five-year lease for 2,100 sf. And Kathy's Touch Florist renewed its 1,200-sf lease for five years.
AAA Vacation Store, Burger King, Novacare and Tot Time are other anchors of the property. Just joining the tenant roster is Tuesday Morning, a high-end close-out retailer that signed a lease for 6,800 sf this past fall.
"The brisk activity reflects the positioning of this property," says Jeff Dash, Lightstone's VP-leasing, noting the 30,000 sf of leasing activity since September. "Mount Laurel's homeowner tenure is exceptionally higher than that of the rest of New Jersey, making it a great location for retailers to establish and grow their business with local residents."
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