NEWARK, NJ-Wakefern Food Corp. has signed a 20-year lease for its subsidiary Shop Rite to anchor the Springfield Avenue Marketplace project here.
Tucker Development, a Chicago-based commercial real estate firm, owns the 11-acre property and signed the lease with Wakefern. ShopRite intends to build a 67,000-square-foot store at the development. City officials were pleased with the ShopRite leasing signing. "We are extremely excited that it is happening," says Adam Zipkin, Newark's deputy mayor for housing and economic development. "They will bring union, living-wage jobs to the city."
Walmart had reportedly been a possible anchor tenant, which met with some local resistance. Newark Mayor Cory Booker, who is running for the U.S. Senate, had put his support behind ShopRite anchoring the project, according to the Wall Street Journal.
See story in the Wall Street Journal.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
