Macy’s Backstage – Essex Green SC, West Orange, NJ – 38,230 s.f. /
Marshall’s – Mansfield Commons, Hackettstown, NJ – 21,674 s.f. /
Marshall’s – Union Plaza SC, Union, NJ – 26,784 s.f. /
Meridian Fitness & Wellness – The Promenade, Edgewater, NJ – 33,996 s.f. /
T.J.Maxx – St. Georges Crossing SC, Woodbridge, NJ – 23,826 s.f./
For a complete list of Welco’s recent Lease Transactions click “Read More”.
New Rochelle, New York, September 30, 2015 — Welco Realty, Inc., an X-Team partner, is pleased to announce the grand opening of a 26,784 s.f. Marshalls on October 22nd in Union Plaza Shopping Center, Union, New Jersey. Marshalls stores offer current-season, brand-name and designer goods for men, women, teens and kids at incredible prices every day.
Jerry Welkis, Principal & President of Welco Realty, Inc. along with Stephan Miller, Leasing Agent of Welco Realty represented the tenant in this transaction. The landlord for Union Plaza Shopping Center is a private partnership represented by The Robbins Agency.
SPRINGFIELD, NJ – September 28, 2015 – National sandwich chain Primo Hoagies has opened a new 1,800 sf location at 200 Route 22 Center Island in Springfield Township, New Jersey. The store is the first in Union County for the chain, which offers authentic Italian-style hoagie sandwiches.
“Primo is joining a number of high profile restaurants on the Center Island of Route 22 in a convenient location with plenty of parking,” says David Townes of Welco Realty.
Primo Hoagies will join another national tenant, MedExpress, at 200 Route 22. Welco Realty, Inc. represented the landlord and the tenant in the transaction.
New Rochelle, New York, September 3, 2015 — Welco Realty, Inc., an XTeam partner, is pleased to announce the grand opening of a 23,826 s.f. T.J.Maxx on September 13th in St. Georges Crossing Shopping Center, 903 St. Georges Avenue, Woodbridge, New Jersey. Other tenants in the center include PetSmart, ShopRite, Pier 1, Auto Zone, P.C. Richard & Son, Golf Galaxy, Chase, Bertucci’s, Shannon Rose & Dunkin Donuts.
T.J.Maxx offers high-quality, brand-name and designer fashions at 20%-60% less than department and specialty store regular prices and comparable merchandise. With over 1,000 stores nationwide and a fresh e-commerce presence, they’re growing faster than ever.
Jerry Welkis, Principal & President of Welco Realty, Inc. along with Stephan Miller, Leasing Agent of Welco Realty represented the tenant in this transaction. The landlord for St. Georges Crossing Shopping Center is Levin Properties, L.P.
New Rochelle, New York, August 4, 2015 — Welco Realty, Inc., an X Team partner, is pleased to announce the signing of approximately a 50,000 s.f. lease with supermarket chain Fairway Market at Georgetowne Shopping Center, 2149 Ralph Avenue, Brooklyn, New York. Fairway has another store in Red Hook, Brooklyn. The original flagship store, Fairway Market, at West 74th Street on Manhattan’s Upper West Side, founded in the 1930s, is still operating at this location.
Welco represented both the landlord, Astoria Holding Corp., and tenant in this transaction. Jerry Welkis, Principal & President of Welco Realty, Inc. said “Howard Mintz, the President and a principal of Astoria Holding, had a choice to make between a larger supermarket chain that wanted to lease the space and Fairway Market. Howard Mintz elected to go with Fairway because in his own words: ‘I really like the way Fairway merchandises their store, and I believe they will be a great addition and attraction for our Center.’”
A 3,750 s.f. Torrid is now open at Yonkers Gateway Center in Yonkers, New York. Torrid is an American retail chain owned by Hot Topic, Inc. The store offers plus-size clothing and accessories for women and teenage girls 12 – 26. Torrid currently has over 170 stores in operation across 36 states in the United States. For more info on Torrid go to http://www.torrid.com/. As Exclusive Brokers for Hot Topic, Inc., Jerry Welkis, David Sternschuss & Stephan Miller represented the tenant in this transaction. (more…)
Welco Realty, Inc., an X Team partner, is pleased to announce that it has arranged the following lease transactions:
River Edge – New Bridge Landing. Located on Rt. 4 & Main Street. There is one space of 1,740 s.f. still available. The remainder of stores should be open within the next six months. Welco represented both the landlord and tenant, except where otherwise noted.
- California Tortilla – 2,784 s.f. (Tenant was represented by Savills Studley)
- Dunkin Donuts – 2,111 s.f. – NOW OPEN
- European Wax – 1,509 s.f.
- Francesca’s Fine Foods – 5,841 s.f. (Tenant was represented by Hudson Real Estate)
- Habit Burger – 3,040 s.f. – NOW OPEN (Tenant was represented by The Dartmouth Company)
- Hear USA – 1,260 s.f. (Tenant was represented by Lang Realty)
- Massage Envy – 2,595 s.f.
- Sport Clips – 1,260 s.f. – NOW OPEN
Union – Union Plaza – 2401 US Highway 22 West. Welco represented the tenant. Robbins Agency represented the landlord.
- Marshall’s – 26,784 s.f.- Projected opening Fall 2015.
SECAUCUS, NEW JERSEY — Michael’s (Nasdaq: MIK) is North America’s largest specialty retailer of arts, crafts, framing, home decor & seasonal products for hobbyists and DIY decorators. As of May 2, 2015, the Company owns and operates 1,177 Michael’s stores in 49 states and Canada and 118 Aaron Brothers stores. Welco leased 21,500 s.f. to Michael’s at 400 Mill Creek Drive in Secaucus, New Jersey which was the former A.C.Moore space. Jerry Welkis of Welco Realty represented the Landlord, Hartz Mountain Industries. The tenant was represented by Jamie Sackeim of The Dartmouth Company. Other tenants in the center are PetSmart, Marshall’s/Home Goods. Adjacent tenants are Bob’s Furniture, Sports Authority, T.J.Maxx, Toys / Babies R Us, Kohl’s to name a few.
Target opening date for Michael’s is Spring 2016.
NEW JERSEY — National men’s haircut chain Sport Clips continues its expansion in northern New Jersey with three new locations. The sports-themed chain leased 1,050 s.f. in Troy Hills Center in Parsippany, 1,250 s.f. in New Bridge Landing at River Edge, and 1,330 s.f. in Village Shopping Center in New Providence.
“Sport Clips is very interested in growing the brand throughout this region,” says David Townes of Welco Realty, who represented Sport Clips in all of the transactions.
Parsippany’s Troy Hills Center is owned by Federal Realty Investment Trust and was represented in-house by Joe Byrnes. In River Edge, Welco Realty represented both the tenant and the landlord. Village Shopping Center in New Providence is owned by Urstadt Biddle and was represented by CJ Huter of The Goldstein Group.
For the first time in a long time in Central and Northern New Jersey, we can stop talking about the light at the end of the tunnel. The market has emerged into full sunshine, and the lingering aftereffects of the recession are now fully in the rear-view mirror.
The current strength of the market and robust activity in terms of new commercial development is something we have not seen for some time. Not only are there more opportunities for developers to get financing, but with rates at low ebb as well, developers are moving to take advantage. At the same time, banks and financial institutions are motivated and aggressively looking to make deals. The result is a perfect storm of sorts: the money is there, developers are willing and ready, and retailers are looking for quality space.
That dynamic is good news not only for Central and Northern New Jersey, but also for all of the metropolitan New York City market. It is noteworthy that very few of the big box retail spaces that became available in the wake of high-profile closings and bankruptcies from brands like Linens ‘N Things and Borders are still available. Slowly but surely, the inventory of those boxes has been re-tenanted, and as retail corridors become healthier, there is a lack of second-generation retail spaces available.