Allendale, N.J. — Azarian Realty Co. has fully leased Allendale Town Center, a 90,000-square-foot shopping center located in Allendale. Philly Pretzel Factory recently signed a 1,254-square-foot lease at the property, bringing the center to full occupancy. Kevin Pelio of Azarian represented both the tenant and landlord in the leasing negotiations. Other tenants include AM/PM Urgent Care, Bergen County Pediatric Dentistry and Primo Hoagies. Azarian is the exclusive leasing agent for the center.
Kenilworth, N.J. — Pure Hockey has signed an 11,340-square-foot lease in Kenilworth. Dean Tselepis of Newmark represented Pure Hockey in the lease negotiations. The hockey equipment retailer will open a store in a space formerly occupied by Clean Land Laundromat. Chuck Lanyard of The Goldstein Group represented the landlord, an entity doing business as Kenilworth 2480 Route 22 LLC.
Cherry Hill, N.J. — UNIQLO will open an 8,200-square-foot store at Cherry Hill Mall in Cherry Hill. Situated on the mall’s first level, the store will mark the sixth in the state for the retailer. PREIT is the owner and operator of the property.
Egg Harbor Township, N.J. — New Jersey-based Spirit Halloween has announced that it will open more than 1,500 seasonal stores throughout the U.S. this year. Stores typically occupy between 5,000 and 50,000 square feet and remain open eight to ten weeks. The company plans to hire 40,000 associates to staff the locations.
Morris Township, N.J. — A joint venture between Accurate and DeVimy Equities has opened Morris Marketplace, a 140,000-square-foot retail center located in Morris Township. Of the 24 tenants that have signed leases at the property, 17 are currently open. Tenants at the center include Burlington, European Wax, Tropical Smoothie, Wells Fargo, Jersey Mike’s and Orangetheory Fitness.
Elizabeth and Roselle, N.J. — Cronheim Mortgage has arranged a $13.1 million loan for the acquisition of two retail centers located in New Jersey. The first property, Color Plaza, comprises 49,309 square feet in Elizabeth. Tenants at the center, which was fully leased at the time of the transaction, include Seabras and CVS/pharmacy. Developed in 2004, the second property is Roselle Commons in Roselle. The center was fully leased at the time of the transaction to tenants including Pep Boys, Green Grocer, Quest Diagnostics, GNC and T-Mobile. Andrew Stewart, Dev Moris …
East Rutherford, N.J. — Babies”R”Us has opened flagship store at American Dream, a 3 million-square-foot retail development located in East Rutherford, roughly 13 miles outside New York City. In addition to a baby registry lounge, nursery design center, learning center and comfort zone, the store features interactive experiences. This marks the return of the chain to the U.S. following WHP Global’s acquisition of both the Babies”R”Us and Toys”R”Us brands in 2021 and the opening of a Toys”R”Us flagship store last year.
Brick Township, N.J. — First Watch will open a 3,846-square-foot restaurant in Brick Township. Scheduled to open in 2024, the property will be situated on a pad site within Brick Commons, a 278,145-square-foot retail center. Amy Staats and Hugh Scullin of Katz & Associates represented the tenant in the leasing negotiations.
Union, N.J. — All 120 Buy Buy Baby stores will close following the bankruptcy of its parent company, Bed Bath & Beyond, reports CNBC. Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in April, previously planned to sell the chain, with brand management firm Go Global Retail interested in acquiring Buy Buy Baby and continuing to run its stores. Instead, Dream on Me Industries has purchased the brand’s trademark and digital assets for $15.5 million. Buy Buy Baby’s website reports that though stores currently remain open, they have “made the difficult …
Linden, N.J. — Pegasus Investments Real Estate Advisory Inc. and Pegasus Capital Markets Inc. have arranged the $55 million acquisition of a 186,000-square-foot single-tenant retail property located in Linden. Walmart Supercenter fully occupies the property, which is situated on 14 acres, with a 20-year triple net lease. Pegasus represented the buyer, a partnership of investors, in the transaction and secured acquisition financing. Mark Keener and Adam Block of Gallagher Evelius & Jones LLP served as counsel for the buyer. SRS National Net Lease Group represented the seller, a joint venture between …
