Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MOUNT LAUREL, NJ-Two new leases and a renewal have added up to 21,330 sf of commitments at Larchmont Commons Shopping Center, a 125,000-sf strip mall owned by the Lightstone Group. The Lakewood-based Lightstone acquired the property five years ago from a local partnership.

In the largest of the signings, international grocer Aldi Inc. has signed a 10-year lease for 18,000 sf to co-anchor the property. Further terms were not released. For Aldi, the deal marks the second signing in New Jersey in recent weeks. In January, the chain leased 17,000 sf as co-anchor of the 87,000-sf Rockaway Commons in Rockaway.

In the other deals, South Jersey Medical Supply, a retailer specializing in durable medical equipment and supplies, signed a five-year lease for 2,100 sf. And Kathy’s Touch Florist renewed its 1,200-sf lease for five years.

AAA Vacation Store, Burger King, Novacare and Tot Time are other anchors of the property. Just joining the tenant roster is Tuesday Morning, a high-end close-out retailer that signed a lease for 6,800 sf this past fall.

“The brisk activity reflects the positioning of this property,” says Jeff Dash, Lightstone’s VP-leasing, noting the 30,000 sf of leasing activity since September. “Mount Laurel’s homeowner tenure is exceptionally higher than that of the rest of New Jersey, making it a great location for retailers to establish and grow their business with local residents.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.