Hudson Lights Retail Leasing Climbs Over 60 Percent With CVS Lease
Pharmacy Joins Long List of Long-Term Tenants at One-Million-SF, Mixed-Use Redevelopment Adjacent to George Washington Bridge
FORT LEE, N.J. (Feb. 23, 2015) — Tucker Development, a leading developer of shopping centers and mixed-use properties, today announced that the retail component of the first phase of Hudson Lights — the company’s large-scale, mixed-use redevelopment in Fort Lee, N.J. — is over 60 percent leased.
With the iconic one-million-square-foot development’s first phase - which will comprise 143,000 square feet of retail and 276 luxury apartments - scheduled to open in the fourth quarter of 2015, retail leasing at Hudson Lights has been brisk. Notably, Tucker has signed CVS, a national pharmacy chain, to a 13,494-square-foot lease. In addition to CVS, Tucker has signed leases with a variety of restaurant, lifestyle and business establishments in recent months.
Located at the entrance to the George Washington Bridge in the heart of Fort Lee, Hudson Lights is part of an innovative redevelopment initiative expected to invigorate the city’s well-located downtown corridor.
“As we move toward completing our first phase of Hudson Lights, it is clear that the final product will be exactly the kind of environment we envisioned,” Tucker Development CEO Richard Tucker said. “The high-quality tenants we have brought aboard will be a boon not only for our Hudson Lights residents, but for all of the residents of Fort Lee, and the surrounding area, who will now be able to access a wide range of dining, shopping and entertainment options.”
In addition to CVS, 11 other establishments have signed long-term leases at Hudson Lights to date. The development’s lead tenant is movie theater iPic, which is building an eight-screen, 533-seat luxury movie theater. Other tenants include food establishments Tanzi Restaurant, Paris Baguette, Gaonnuri Restaurant, Anthony Franco’s Pizza, and 16 Handles; apparel shop Shesmiss; consumer banks Capital One Bank and New Bank; service establishments European Wax and Tutti Nail and Spa; and real estate firm Coldwell Banker.
Hudson Lights’ first phase will include 276 luxury apartments that will feature numerous amenities for residents, including a pool, lounge, fitness center, rooftop terrace and gardens. The development’s first phase will also include 864 parking stalls.
The fully entitled second phase of Hudson Lights is approved to include an additional 201 residential units, approximately 50,000 square feet of retail space and parking, as well as a 175-room hotel. The zoning also affords the development the option for an office building of up to 430,000 square feet.
About Tucker Development
Tucker Development, founded by Richard H. Tucker in 1996, is a leading developer and manager of shopping centers and mixed-use properties in key Midwest and East Coast barrier-to-entry markets. The company pursues mixed-use and retail-related real estate investments that provide an opportunity to enhance value through development, redevelopment, repositioning and recapitalization. Tucker Development Corporation’s development, management and leasing portfolio exceeds five million square feet and continues to grow through the company’s development and acquisition activity.
For more information on Tucker Development, visit www.tuckerdevelopment.com.