The national beauty chain plans to open its new10,800-square-foot superstore during the fall of 2010. "The openingof this new store is an indication that the worst is behind us andthat we'll start seeing more openings in the near future," EdWalters, founder and partner of the Walters Group, tellsGlobeSt.com. "Sales have been very strong for all the retailers atStafford Park. The tenant mix fills a clear void in this submarketfor certain retailers."

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Located off of exit 63, at the southwest corner of the GardenState Parkway and Route 72 interchange, the Stafford Parkredevelopment is rising on the site of a former landfill in the NewJersey Pinelands. All construction is expected to meet LEEDstandards, and the retail portion of Stafford Park is registeredwith a certification goal of LEED Silver. In addition, the WaltersGroup opened Stafford Park Apartments, an affordable housingdevelopment consisting of 112 energy-efficient units in fivemid-rise buildings. The concept design for the entire redevelopmentalso integrates residential and office space with a number ofmunicipal facilities.

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There is going to continue to be a real push toward developingprojects that lower the communities' carbon footprint, Walterstells GlobeSt.com. As for the recession, he predicts that as therecovery takes hold, stronger companies with increased market sharewill once again enter a period of expansion--hiring new employees,opening new locations and leasing new space. Walters is alsobullish on the lending environment. "Lending money happens to bethe business banks are in--they have no other way to make money--soit is only a matter of time before banks will be competing asfiercely as they have in the past in order to do deals."

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