Mahwah, N.J. — Dressbarn, a women’s apparel retailer, plans to eventually close all 650 of its stores nationwide. The New Jersey-based company is winding down its retail operations and plans to assist its 6,800 associates with transition support as individual stores close. “For more than 50 years, Dressbarn has served women’s fashion needs, and we thank all of our dedicated associates for their commitment to Dressbarn and our valued customers,” says Steven Taylor, Dressbarn’s chief financial officer. “This decision was difficult, but necessary, as the Dressbarn chain has not been …
New Jersey
Livingston, N.J. — Eastman Cos. has refinanced The Shoppes at Livingston Circle, a 95,809-square-foot retail center in Livingston, New Jersey, an eastern suburb of Newark. Built in 1993 and anchored by German discount grocer Aldi, the property was 80 percent leased at the time of sale to tenants such as Olive Garden, Goldfish Swim and Club Pilates. Jon Mikula and Jim Cadranell of HFF placed the loan, which features a 12-year term and a fixed interest rate, on behalf of Eastman. The lender was not disclosed.
Goldstein Group Arranges Sale of 17,661-Square-Foot Retail Property in Paramus, New Jersey
Paramus, N.J. — The Goldstein Group has negotiated the sale of a 17,661-square-foot retail property in Paramus, located directly across the Hudson River from The Bronx borough of New York City. Outdoor furniture store Harrow’s most recently occupied the space. Lew Finkelstein and C.J. Huter of The Goldstein Group represented the seller, 685 LLC, in the transaction. The buyer was a subsidiary of J&M Furniture.
Watchung, N.J. — Cinemark Holdings Inc. has opened a 10-screen theater at 1670 Route 22 East in Watchung, located 30 miles west of New York City. The theater will feature wall-to-wall screens, oversized recliners, reserved seating services and a party room for private events. The venue will be the third in the state for Cinemark, which currently operates 546 theaters across 41 states and various Latin American countries.
Montclair, N.J. — The Hampshire Cos., along with joint venture partner Pinnacle Cos., have announced plans to redevelop Lackawanna Plaza in Montclair. The planned 216,772-square-foot mixed-use redevelopment is expected to revitalize the complex through the development of a range of modern retail, office and residential spaces while preserving historical elements of the station. Originally built in 1913, Lackawanna Plaza was a stop on the Delaware, Lackawanna and Western Railroad until the station’s closure in 1981. The site will be anchored by a 28,509-square-foot Lidl grocery store. In addition to Lidl, …
Manalapan, N.J. — Marcus & Millichap has negotiated the $11.7 million sale of Tennent 9 Shopping Center in Manalapan, New Jersey. Located at 700 Tennent Road, the 60,000-square-foot center is anchored by NetCost Supermarkets, a European specialty supermarket. The remaining 10 units are leased to a mix of local and regional tenants, along with a Rite-Aid pharmacy. Alan Cafiero and Ben Sgambati of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private investor.
Denville, N.J. — Marcus & Millichap has arranged the $1.8 million sale of a 12,770-square-foot retail property in Denville, New Jersey. Located at 424 W. Main St., the fully occupied property is situated on 1.4 acres. Michael Lombardi and Scott Plasky of Marcus & Millichap’s New Jersey office represented the seller, a private investor, in the transaction. The buyer was also a private investor.