NEWARK, NJ—Krauszer’s Food Stores, a convenience grocery store, has signed a 15-year, 2,300-sq.-ft. lease at the Madison building located at 216 Market Street as part of the RockPlaza Lofts redevelopment. The location is the first of several planned for the grocery store chain for its Newark growth.
Christian Benedetto and Ed Flanagan of Hopkins Sampson & Brown Real Estate Advisory Services LLC were the sole brokers in the transaction.
The RockPlaza Lofts redevelopment, being completed in phases, totals eight properties, approximately 34,000 sq. ft. of retail space and more than 80 loft-style apartment units. Fidelco Realty Group and Hanini Group are leading the redevelopment efforts.
“The signing of Krauszer’s represents both a practical and milestone success for the RockPlaza Lofts development,” said Marc E. Berson, chairman of Fidelco Realty Group. “From a practical standpoint, Krauszer’s Food Stores provides residents with a walkable, convenient place in the neighborhood for their food and grocery needs. Symbolically, Krauszer’s adds to the diversity of retailers, bringing RockPlaza Lofts another step closer to delivering upon the ambitious goals the development set when it was conceived.”
Krauszer’s is slated to open this summer.