CLIFTON, NJ-Retail brokers and developers maintain that the New Jersey retail market has returned to pre-recession leasing activity and are optimistic that new product coming on line will garner significant tenant interest.
“Things are certainly better than they were a few years ago,” said George Jacobs, president of Clifton-based development firm Jacobs Enterprises. Jacobs said the firm's Clifton and Ridgewood retail properties are 100% leased and he is seeing strong interest in new urban mixed-use developments in Newark and Bloomfield, according to The Record. He also noted that his firm and partners broke ground on a retail and residential project in Bloomfield on Monday.
Jacobs was among more than 7,500 retail real estate professionals gathered at the Hilton New York hotel Monday for a two-day conference hosted by the International Council of Shopping Centers.
Don Ghermezian, president of Triple Five, the developer of American Dream, said the mall is attracting significant leasing interest. “We have eight or nine leasing agents talking to us right now,” he said. See story in The Record.
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