WOODBRIDGE, NJ–Fameco Real Estate said thatactivity amid its central and northern NJ shopping centers is in high gear.
Steven Winters, one of Fameco’s seniorprofessionals in its Woodbridge office attests, “leasing activity has definitely increased. We’ve been successful in creating value for landlords and developers in all center types, from big box to grocery anchored, and from convenience oriented strips to free standing parcels.”
Segments like dollar stores and gas and convenience operations are leading the charge. Winters recently completed three Dollar Treein Mansfield on behalf of Professional Consortium, in Toms River for H. Hovnanian Industries and, working in conjunction with Fameco’s Mike Horne, in Kimco’s Holmdel Town Center in Holmdel.
Gas and convenience stores, such as Wawa continue to make inroads into the central and northern New Jersey marketplace. In Woodbridge, Winters along with Fameco’s Carlo Caparruva, secured a 1.5 acre ground lease for Wawa. Likewise, in Elizabeth, Winters and Caparruva were successful in securing a 1.5 acre purchase opportunity for Wawa and its preferred developer at the signalized intersection of Routes 1/9 and Fairmount Avenue.
New developments are seeing resurgence, as well. In Bergen County, N.J., Winters and Fameco Partner Jeffrey Cohen are spearheading the retail leasing efforts at Teterboro Landing, a new, high profile mixed usewith +/- 425,000 sq. ft. of retail space located across from the Teterboro Airport. The expectation is that the center’s anchors will be announced in the next six months.
Finally, in more conventional inline leasing activity, Winters recently completed deals with Hand & Stone, GNC, Great Clips and C2 Education for Regency Center’s Plaza Square in Wayne, N.J. In Chester, Fameco’s Caparruva has completed a host of deals at Streets at Chester with Country Curtains, Plow & Hearth, and Elements Therapeutic Massage, among others. In Toms River, both Massage Envy and Scottrade have signed leases at Crossroads Center, the former Dover Mall, now in the midst of redevelopment. Horne is the leasing agent for this center which is anchored by ShopRite, Staples and Party Fair.
In addition to a 3-million-sq.-ft. leasing portfolio, Fameco’s Woodbridge office also represents a number of national retailers including Walmart, Sam’s Club, LA Fitness, AutoZone, Staples, Shoe Dept. and Buffalo Wild Wings.