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ROCKAWAY, NJ-International grocer Aldi has signed a lease for 17,000 sf and will co-anchor the under-construction 87,000-sf Rockaway Commons shopping center on Route 46 here. The long-term lease carries a value “in excess of $10 million,” according to Chuck Lanyard of the Glen Rock-based Goldstein Group. Further terms were not released.

Lanyard and Goldstein Group colleagues Florian Suserman and Curtis Nassau represented owner Rockaway Commons LLC as exclusive brokers for the property. Aldi Supermarkets was represented by Rick Weinberg of the Plymouth Meeting, PA-based Fameco Real Estate.

“Aldi will co-anchor this new shopping center with Walgreens and Commerce Bank, which have already opened for business,” says Lanyard, noting that those two tenants operate on pad sites. The strip building that Aldi will anchor is currently under construction, slated for completion this spring. A total of 51,000 sf is currently available for lease.

The Essen, Germany-based Aldi was founded in the 1940s and entered the US market in 1976. The company currently has more than 7,200 locations in 15 countries, including 850 stores in 26 states in the US.

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