The Goldstein Group Closes Several Recent Large Retail Transactions In New Jersey
PARAMUS, NJ. (JANUARY 2012) – With the retail market beginning to make a substantial comeback last year, The Goldstein Group, New Jersey’s leading retail brokerage services firm, reported it had recently closed eight large store lease transactions. Some of these transactions were for fitness centers, which are very actively expanding in the retail markets. “We are seeing bigger box stores returning to the retail marketplace,” according to Chuck Lanyard, president of The Goldstein Group. “Larger tenants are capturing well-located shopping center availabilities at competitive rental rates before the market’s strength causes rents to climb.”
The Goldstein Group completed the following large size transactions in the latter half of 2011 in New Jersey:
· Home Goods – Closed a deal totaling 24,000 sf with the retailer of home furnishings and accessories at Veterans Square Towne Center in Lyndhurst, a 144,000 sf retail center. President Chuck Lanyard and Matthew Flath of The Goldstein Group represented the landlord in the transaction.
· Harbor Freight – Consummated a 17,000 sf transaction at 1016 Main Avenue in Clifton, a 30,000 sf retail strip center. President Chuck Lanyard of The Goldstein Group represented the landlord in the deal.
· Petsmart –The national pet retailer renewed its lease of 20,000 sf on Route 17 in Paramus. The Goldstein Group represented the landlord in the transaction.
· Nissan – Representing both the retailer and landlord, The Goldstein Group leased 16,200 sf to Nissan at 331 Route 4 West in Paramus. President Chuck Lanyard and Vice President Lew Finkelstein of The Goldstein Group were responsible for the transaction.
· Planet Fitness –The Goldstein Group completed two transactions for Planet Fitness: a 19,100 sf lease at 1 South Main Street in Toms River; and a 16,500 sf deal at West Falls Plaza on Route 4 in Woodland Park. Vice Presidents Curtis Nassau and Florian Suserman of The Goldstein Group represented Planet Fitness in both transactions and also represented the landlord in the Woodland Park transaction.
· Ledgewood Fitness – Completed a 20,000 sf deal at 1103 Route 46 in Ledgewood, a 125,000 sf retail center. President Chuck Lanyard and Vice President Lew Finkelstein of The Goldstein Group represented the landlord in the transaction.
· Edge Fitness – The Goldstein Group completed a 21,000 sf lease with the upscale fitness club at 340 Ramapo Valley Road in Oakland. Vice President Lew Finkelstein and Ryan Glastein of The Goldstein Group represented the landlord in the transaction.
“The trend of larger spaces being leased-up is continuing strongly into this new year. The larger store deals are still very lucrative to the retailer and retail leasing continues to increase steadily. New Jersey’s strong demographics continue to be the attraction for retailers looking to expand their locations in the State,” noted Mr. Lanyard.
About The Goldstein Group
The Goldstein Group, New Jersey’s leading full-service commercial real estate brokerage firm, specializes in owner representation, retailer representation, investment sales and management services. The firm, founded in 1986, represents over 12,000,000 square feet of retail space and more than 50 national and regional retailers. The Company is the New Jersey member of the Retail Brokers Network. As an RBN affiliate, The Goldstein Group provides clients assistance throughout the United States with qualified retail specialists in over 60 offices nationwide.
For more information on the Retail Brokers Network, visit www.retailbrokersnetwork.com.
For more information, contact Chuck Lanyard, president and director of brokerage services, at 201-703-9700, or visit the Company’s website at www.thegoldsteingroup.com.