Positioning Retail Real Estate for a New Generation

March 12, 2015

  • Posted on:  Monday, 16 March 2015 13:42
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Tuesday Morning Joins Tenant Mix at Paramus Place in Paramus, N.J.

Off-Price Retailer Inks Lease for 15,000 Square Feet at Levin-Managed Center

PARAMUS, N.J., Mar. 12, 2015 ¬ Tuesday Morning, an off-price retailer of decorative home accessories, housewares, seasonal goods and gifts, is set to join the tenant mix at Paramus Place in Paramus, New Jersey. The retailer has leased 15,000 square feet of space at the 261,000-square-foot shopping center, announced Levin Management, the property¹s managing and leasing agent.

Levin¹s Senior Leasing Representative Jake Frantzman negotiated the long-term lease. Marta Villa of CBRE represented the tenant in the transaction.

³Bergen County is one of the strongest and most sought-after retail markets in New Jersey,² said Frantzman. ³Paramus Place ¬ with its strong co-tenancy, high daily consumer traffic, and exceptional highway visibility among a growing residential and commercial population ¬ is a desirable location for any retail tenant. Tuesday Morning complements an already strong lineup of retailers, and we are excited to be part of the chain¹s continued New Jersey expansion.²

Based in Dallas, Texas, Tuesday Morning provides a selection of brand name, high-quality merchandise ¬ never seconds or irregulars ¬ at prices well below those of department and specialty stores, catalogues and online retailers.

Well located directly on heavily traveled Route 4 west, Paramus Place serves a growing residential population of more than 562,000 people within a five-mile radius. The marketplace offers an average household income of $88,400 and the daily traffic count exceeds 141,000 vehicles per day on Route 4 and Spring Valley Road. Anchored by Kohl¹s, the center¹s tenants include Panera Bread, Annie Sez, Modell¹s, Party City, Lane Bryant, A.C. Moore and Cuts for Kids.

Retail availabilities at Paramus Place include one 41,300-square-foot two-story end cap.

Headquartered in North Plainfield, New Jersey, Levin Management is one of the nation¹s leading retail real estate services firms, with a strong focus in the northeastern United States and an owner¹s approach to the business. The firm offers a full range of services for a diverse portfolio that encompasses approximately 95 properties and more than 13 million square feet, including leasing, property management, accounting, construction management and marketing. Levin serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, street retail, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Massachusetts, Virginia and North Carolina.

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