Supermarkets Looking for Space in New Jersey
PARAMUS, NJ (OCTOBER 14, 2013) – The Supermarket industry is seeing changes in Northern and Central New Jersey as many grocers are seeking new locations in NJ for the first time, while many existing grocers are taking advantage of relocating and repositioning their stores in better locations.
“We’re seeing a competitive atmosphere as the supermarket companies are looking to find locations,” stated Chuck Lanyard, President of The Goldstein Group. “We’re in negotiations with several grocers as they’re looking to expand their footprints from smaller locations or find new locations.”
For decades, the New Jersey marketplace has been dominated by Shop Rite, Stop & Shop, A&P and Pathmark and now, with the many store closings of Pathmark and A&P, numerous opportunities of available vacant stores have opened the door for other supermarkets. Fairway, Wegmans, Whole Foods, Fresh Market and Weis have all been able to expand in New Jersey. As a result, others such as Aldi, Bottom Dollar, Key foods, several Asian Markets, such as H Mart, and other independent operators have found their niche locations as well. Also, Shop Rite’s new Price Rite concept will soon be opening locations in New Jersey.
Wegmans Supermarket super stores, with over 120,000 square feet, is looking to add locations in Montvale and Hanover. Montvale is currently in for approvals while Hanover has recently been approved.
Whole Foods is ready to build a new location in Marlboro and has recently announced they are going into a downtown Newark site. They also have plans for locations in Closter and Clark.
ShopRite is currently under construction in Hanover and will commence renovations of a former Pathmark in Union. They recently opened in Hazlet, are in the approval stage in South Brunswick and have an approved site in Wyckoff. Shop Rite also has plans to open in Newark.
The Fresh Market, a 130 plus unit chain out of North Carolina has a second location in Bedminster, New Jersey to join the Montvale location. Weis Markets recently opened in Hillsborough and will open another location in Flanders shortly. Aldi opened in Lodi and North Bergen. Key Foods in Newark and South Orange.
With the advert of continuous closing of stores such as Pathmark, A&P and other big box locations, the New Jersey marketplace is ripe for supermarkets to secure good, well populated locations throughout the area.
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 75 offices in the United States and Canada.
For more information on the Retail Brokers Network, visit www.retailbrokersnetwork.com.
For more information, contact Chuck Lanyard at (201) 703-9700, extension 115 or visit the Company’s website at www.thegoldsteingroup.com.