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Toys ‘R’ Us Opens 6,500-Square-Foot Store in Suburban New York City

by Katie Sloan

Paramus, N.J. — Toys ‘R’ Us has opened a 6,500-square-foot retail store at the Westfield Garden State Plaza Mall in Paramus, a western suburb of New York City. The new store, which opened on Saturday, Nov. 4, marks the first brick-and-mortar store the company has opened since it filed for bankruptcy in 2017 and closed all of its stores in 2018. Compared to the retailer’s previous big box stores, the new store follows an experience-driven format with playscapes, Lego sets and other interactive activities. Customers can purchase items in-store or access …

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FinanceGrocery-anchoredNew JerseyNewsRetailers

JLL Secures $32 Million Loan for Refinancing of Shopping Center in Lyndhurst, New Jersey

by Alex Tostado

Lyndhurst, N.J. — JLL has secured a $32 million loan for the refinancing of Veterans Square Town Center, a 136,928-square-foot shopping center in Lyndhurst, a western suburb of New York City. Originally constructed in 2000, Veterans Square Town Center is fully occupied by 13 tenants, including anchor tenant ShopRite, HomeGoods, PetSmart and Supercuts. PGIM Real Estate Finance provided the nonrecourse loan, which carries a 10-year term and a fixed interest rate. Proceeds will be used to refinance an existing loan previously arranged by HFF prior to its acquisition by JLL. Jon …

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LeasingNew JerseyNewsRetailers

R.J. Brunelli Negotiates 24,000-Square-Foot Retail Lease in Old Bridge, New Jersey

by Alex Tostado

Old Bridge, N.J. — R.J. Brunelli & Co. has negotiated a 24,000-square-foot retail lease for a Jersey Strong fitness center in Old Bridge, located about 35 miles south of New York City. The tenant will anchor the 84,900-square-foot Browntown Shopping Center along with a Walgreens. R.J. Brunelli and Richard Brunelli of R.J. Brunelli & Co. represented Jersey Strong in the lease negotiations.

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FinanceNew JerseyNewsRetailers

Cronheim Mortgage Secures $10 Million Financing Loan for Retail Center in Newark, New Jersey

by Alex Tostado

Newark, N.J. — Cronheim Mortgage has arranged a $10 million financing loan for Ferry Plaza, a retail center in Newark. One America provided the loan, which carried a10-year term and a 22-year amortization schedule. Seabra Supermarket anchors the 63,433-square-foot retail center, which also houses a post office, bank and several other retailers and restaurants. Cronheim arranged the loan on behalf of the borrower, an entity affiliated with Urstadt Biddle Properties Inc.

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DevelopmentFinanceNew JerseyNewsRetailers

Cushman & Wakefield Arranges $72.5 Million Construction Loan for Retail Redevelopment in Roxbury, New Jersey

by Alex Tostado

Roxbury, N.J. — Cushman & Wakefield has arranged a $72.5 million construction loan for the redevelopment of The Shops at Ledgewood Commons, a retail center in Roxbury, located about 40 miles west of New York City. Santander Bank provided the loan, exact terms of which were undisclosed. The borrower, Advance Realty Advisors, plans to reposition the former enclosed mall into an open-air retail center. John Alascio, Sridhar Vankayala, T.J. Sullivan and Zachary Kraft of Cushman & Wakefield arranged the loan.

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LeasingNew JerseyNews

Edge Fitness Signs 48,776-Square-Foot Retail Lease in Voorhees, New Jersey

by Alex Tostado

Voorhees, N.J. — Edge Fitness Clubs has signed a 48,776-square-foot retail lease at the Echelon Village Plaza in Voorhees, a southeastern suburb of Philadelphia. The gym will anchor the 90,000-square-foot retail center, which also houses a Dunkin’ and Voorhees Veterinary. Scott Benson and Brandon Anapol of Metro Commercial represented Edge Fitness in the lease negotiation. David Dunkelman of Soloff Realty & Development represented the landlord, Site Centers.

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LeasingNew JerseyNewsRetailers

Korean Fashion Retailer Signs 10,000-Square-Foot Lease in East Rutherford, New Jersey

by Alex Tostado

East Rutherford, N.J. — Korean fashion retailer ALAND has signed a 10,000-square-foot lease at American Dream, an upcoming mixed-use development in East Rutherford, a western suburb of New York City. The store will be ALAND’s second location in the United States after its Brooklyn store opened in 2018. Canadian developer Triple Five Group will open over 3 million square feet of retail, entertainment and food destinations at American Dream in October 2019.

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DevelopmentGrocery-anchoredNew JerseyNews

Filipino Grocer to Open 16,000-Square-Foot Store in Clifton, New Jersey

by Alex Tostado

Clifton, N.J. — Filipino grocer FilStop will open a 16,000-square-foot flagship store in Clifton, a western suburb of New York City. The specialized grocery store will also maintain its original 4,000-square-foot location in Jersey City. The store will be located within Clifton Plaza, a 95,000-square-foot retail center anchored by Big Lots, Blink Fitness and Dollar Tree. The opening is slated for Aug. 22.

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Company newsNew JerseyNewsRetailers

Women’s Fashion Chain Avenue to Close All 222 Stores Across 33 States

by Alex Tostado

Rochelle Park, N.J. — Avenue Stores LLC will close all 222 of its Avenue stores across 33 states after failing to procure a buyer for the plus-size women’s clothing chain. It was not made immediately clear if the retailer will continue to operate its e-commerce platform. Philadelphia-based Versa Capital Management acquired Avenue Stores LLC in bankruptcy in 2012 when the retailer operated 433 stores. Avenue will hold liquidation sales in all of its stores, offering 30 to 50 percent off clothes, accessories and even store fixtures. Hilco Merchant Resources and …

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LeasingNew JerseyNewsRetailers

NRDC to Open Three Retailers Totaling 58,000 Square Feet in Burlington, New Jersey

by Alex Tostado

Burlington, N.J. — National Realty & Development Corp. will open three new stores totaling 58,000 square feet at the Liberty Square Center in Burlington, a city located southwest of Trenton. The shopping center is anchored by a Walmart, Marshalls and HomeGoods. Planet Fitness will open a 25,000-square-foot location at the property. Ross Dress for Less will move into a 22,000-square-foot portion of a former Toys ‘R’ Us location. Five Below will occupy the remaining 11,000 square feet of the former Toys ‘R’ Us location.

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