NEWARK, DE—As Atlantic Realty Cos. begins its$10 million renovation of the NewarkShopping Center, it has secured a new tenant: theNewark Natural Foods Co-op, which has signed alease for 17,610 square feet. The Vienna, VA-based Altantic Realtymanages the center, which is owned by ARC andAngelo, Gordon & Co.
Newark Natural Foods Co-op is doubling its current size with thenew lease.
The revamped center will have a more pedestrian friendly designand will also include a residential component. The plans call forthe current bowling alley at the center to be replaced with a230-unit upscale apartment building and parking garage. Apedestrian walkway will cut through the retail pavilion to connectthe apartment building to the nearby Pomeroy Trail.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
