Daily Record – August 25, 2017
HANOVER – The Hanover Crossroads mall in Cedar Knolls has signed three new tenants to reach 100 percent occupancy.
The 107,000-square-foot Morris County shopping center – owned and under development by Teaneck-based Key Properties – has added Old Navy (12,500 square feet), IHOP (5,000 square feet) and an Italian restaurant with catering services (3,650 square feet) to its lineup.
Jerry Welkis of Welco Realty Inc., exclusive leasing agent for Hanover Crossroads, arranged the leases. Michael Friedman of Inline Realty served as leasing agent for Old Navy. (more…)
By Joshua Burd
Target has lined up a 20,400-square-foot space in Bensonhurst for a store with a flexible layout and smaller packaging, according to a press release from the company. The store will replace Annie Sez and Mandee stores (which closed this week upon lease expiration) at 6401 18th Avenue at the corner of 64th Street. The lease, signed last week, is for 10 years with options, according to Jerry Welkis of Welco Realty, who represented the landlord in the deal. He declined to provide the asking rent.
“Target is a great merchant,” Welkis told Commercial Observer. “They have great credit and they thought it would be a great amenity to the community to have one of the new Target urban concept stores. It was natural because of the tremendous population density, the subway diagonal across the street and they sell value-oriented merchandise.” (more…)
PARAMUS, NEW JERSEY (The Shops at 17 North) – X-Team Partner Welco Realty, Inc, is pleased to announce that high-end British paint and wallpaper company Farrow & Ball has opened its first New Jersey store in Paramus, New Jersey. The Paramus store is the 15th Farrow & Ball location in the United States. The store is approximately 2,000 s.f. and has a 22 foot high ceiling. The company picked Paramus because many North Jersey customers visit its New York City store. Other tenants in the center are PM Pediatrics, Kohler Showroom, FedEx & German Kitchen Center.
Paint pioneers John Farrow and Richard Ball founded the company in 1946. They met while working at a local clay pit and later went on to build their first factory in Dorset.
Jerry Welkis of Welco Realty, Inc. represented the landlord, 17 North Associates and SRS Real Estate Partners – NE, LLC, Sarah Hughes, represented the tenant.
Welco Realty was also instrumental in aiding the signing of a lease for a 4,000 s.f. Kohler Showroom to open shortly at The Shops at 17 North. Kohler was founded in 1873 and has more than 50 manufacturing locations on 6 continents maintaining the leading brands in Kitchen and Bath, Power Systems, Interiors and Hospitality.
Jerry Welkis of Welco Realty, Inc. represented the landlord, 17 North Associates and The Greco Realty Group, Stephanie Greco, represented Kohler.
Saks Fifth Avenue is bringing its first store to the Bronx with a Saks Off 5th at Prestige Properties & Development’s open-air Bay Plaza Shopping Center near Co-op City.
The new discount store will span 25,000 square feet at ground level at 200 Baychester Avenue, Jerry Welkis of Welco Realty told Commercial Observer. He represented Prestige along with colleague Etan Shalem. The Saks Off 5th will be next to K-Mart, he said, and is slated to open by early-fall 2017.
“It’s a wonderful thing that we’re bringing an iconic fashion brand name to Bay Plaza Shopping Center and we’re thrilled they chose Bay Plaza as their first store in the Bronx,” Welkis said. (more…)
Welco Realty made the list!
Founder: Jerry Welkis
Date established: 1990
Number of brokers/agents then: 1
Number of brokers/agents now: 12 (plus 5 employees)
When the Mall at Bay Plaza opened in the Bronx two years ago next month, it was billed as the first suburban-style fashion mall to be built in New York City in nearly 40 years. New Rochelle-based retail brokerage Welco Realty was tapped to lease the entire $300 million, 780,000-square-foot mall for the developer, Prestige Properties & Development, also behind the adjacent Bay Plaza Shopping Center (which Welco also leased with its over 50 department and specialty stores).
“It’s the only borough without an enclosed fashion mall,” Jerry Welkis, the president and principal of Welco Realty, told Commercial Observer before the project’s grand opening. He noted last week, “When we opened, it was just about I’d say probably in the 70 to 75 percent level.” Today it is 90 percent occupied.
The brokerage represents landlords and developers like Prestige, Urban Edge Properties (a spinoff off of Vornado Realty Trust), RREEF Property Trust, The Real Estate Equity Company, aka TREECO, and Hartz Mountain Industries. (And with a dozen agents, it’s also the largest one featured in this boutique brokerages issue.) (more…)
and will also be an Associate Broker for Welco Realty, Inc.
Aaron Fleishaker brings over 25 years of retail real estate experience to the team
NEW ROCHELLE, N.Y., May 10, 2016—Welco Realty Inc./Welco Management, Inc., an X Team International partner focused on retail tenant and landlord representation, has hired Aaron Fleishaker as Executive Vice President of New Business Development for Welco Management, Inc. and will be an Associate Broker with Welco Realty, Inc. Welco Realty President, Jerry Welkis, made the announcement.
“Aaron’s extensive industry experience, dedication, and work ethic make him an outstanding addition to the Welco Realty team,” said Welkis. “He will play a significant day-to-day role handling business development initiatives that are critical to our continued growth in the competitive New York real estate market.”
In his new role, Fleishaker will focus on business retention and expansion as well as oversee development initiatives on behalf of the company. Fleishaker was a client of Welco Realty during his time working with Modell’s Sporting Goods and Fairway Market.
“After years of working closely with the Welco team on the client side, I knew this was the right move when asked to join their incredible staff,” said Fleishaker. “They are a group of dedicated, honest and hard-working people who put 100 percent into the work they do for their clients. I’m looking forward to learning from them and contributing to the growth of the company.”
Prior to joining Welco, Fleishaker led Fairway Market’s real estate expansion program where he contributed to the growth of the business from four to fifteen stores and three wine and liquor stores in just seven years. He also served as Executive Vice President of Store Leasing and Property Management at Kimco Realty, and Senior Vice President of Real Estate at United Retail Group, after beginning his retail real estate career at Modell’s Sporting Goods as General Counsel and Senior Vice President of Real Estate and Construction, where during that time Modell’s tripled its store count and grew sales volume by 900 percent.
Fleishaker has his J.D. from Boston University School of Law and a Bachelor’s Degree in business administration with a concentration in finance and marketing from Boston University School of Management.
EDISON, NJ – Welco Realty, Inc. a leading commercial brokerage firm in the New York Metro area specializing in retail leasing is pleased to announce that it has signed a lease with global golf entertainment leader Topgolf International for a 65,000 s.f. venue in Edison Towne Square, Edison, New Jersey. The development is located on Route 1, just a mile south of the intersection of the NJ Turnpike and I-287.
After 16 years of operation and 24 U.S. locations, this is the company’s first location in the Northeast. Topgolf has begun construction and is expected to open to the public Fall 2016 or early 2017.
Jerry Welkis & David Sternschuss, Principals of Welco Realty, represented the landlord, Hartz Mountain Industries, in this transaction. John Hanlon of CBRE represented the tenant. (more…)
SHREWSBURY, NJ – Welco Realty, Inc, a leading commercial brokerage firm in the New York Metro area specializing in retail leasing is pleased to announce the grand opening of Cost Plus World Market, a division of Bed, Bath & Beyond. This is the retailer’s second location in New Jersey and is located at 490 Broad Street. They opened their first New Jersey location in July 2014 in Livingston, NJ.
Jerry Welkis, a Principal of Welco Realty, Inc. represented the landlord, MCP Associates, LP, in the transaction. Welco Realty negotiated the deal directly with Cost Plus World Market.
About Cost Plus World Market
Cost Plus World Market (www.worldmarket.com) operates 276 stores in 35 states under the World Market® and Cost Plus World Market® trademarks. The stores feature an ever-changing selection of casual home décor and furnishings, housewares, gifts, jewelry, decorative accessories, over 500 international wines, gourmet foods and beverages offered at affordable prices and imported from more than 50 countries. Many items are unique and exclusive to World Market and are regularly supplied by an international network of individual and regional artisans developed over the Company’s more than 50 years in the import business.
Sierra Trading Post SEEKING SITES IN NEW JERSEY.
Criteria: 20,000 – 25,000 s.f.
Prefer regional & community shopping centers with good co-tenancy. Middle income to upper middle income.
Sierra Trading Post is part of The TJX Companies, Inc., the leading off-price retailer of apparel and home fashions in the U.S. and worldwide.
ABOUT SIERRA TRADING POST
Headquartered in Cheyenne, Wyo., Sierra Trading Post is a leading off-price Internet retailer. Just like our customers, “We are all explorers.” Sierra Trading Post has offered customers amazing savings since 1986 on outdoor gear, shoes, clothing, accessories and home furnishings. Sierra Trading Post has stores in Colorado Springs, Colo.; Fort Collins, Colo.; Greenwood Village, Colo.; Boise, Idaho; Reno, Nevada; Cheyenne, Wyo.; Burlington, VT.; and Cody, Wyo., as well as a Technology Campus in Fort Collins.