CRANFORD, NJ-Elizabeth Arden Red Door Spa Holdings has signed a long-term lease to anchor the retail portion of Cranford Crossing, a $16-million Downtown mixed-use redevelopment being done by the Florham Park-based Westminster Communities. Terms of the lease were not disclosed.
"Securing a national tenant of this stature ensures the success of this undertaking," says Ira Bloom, director of leasing for Kushner Properties, which handles commercial leasing and management for the Kushner Cos. Westminster Communities is Kushner Cos.' development arm.
Red Door Spa will occupy 7,100 sf on the ground floor of the project's 10,595-sf East Building. The companion West Building will add 10,525 sf to the mix. The signing marks the 43rd Red Door Spa in the US and Europe, and the first freestanding--non-department-store--unit in New Jersey. The flagship salon is at Fifth Avenue and 54th Street in Manhattan.
"Red Door's commitment is the culmination of two years of discussions," says Brian S. Silbert, president of Silbert Realty & Management Co., Millington, who has the leasing exclusive for the retail portion of Cranford Crossing. "The presence of this anchor will allow us to procure other high-end national retailers not yet in this market."
Located a block from this Union County town's commuter rail station, Cranford Crossing also includes 50 luxury condominiums in two mid-rise buildings. The project is rounded out by a municipally owned, 310-car parking garage for use by commuters, shoppers and residential owners.
Westminster Communities received its building permits earlier this month and expects to start construction in mid-November. Completion of the retail portion is projected for the spring of 2006.
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