Levin Leases 24,000 Square Feet to Home Fashion Retailer at Mixed–Use Development
EDGEWATER, N.J., March 15, 2013 - HomeGoods, TJX Companies’ off–price home fashion retailer, is set to open its newest New Jersey location at Edgewater Harbor, announced Levin Management, exclusive retail leasing agent for the property. The 24,000–square–foot store anchors the 100,000–square–foot retail component of this premier mixed–use development.
Levin’s leasing representative Jake Frantzman negotiated the long–term lease. Jerry Welkis of Welco Realty represented HomeGoods in the transaction.
“Redevelopment efforts spanning from Weehawken to Bayonne have really kicked into high gear, making the Gold Coast a magnet for residents as well as retailers,” said Frantzman. “Strong demographics, along with excellent visibility and access, make Edgewater Harbor the perfect location for HomeGoods as it continues expanding throughout the New Jersey marketplace.”
Based in Framingham, Mass., HomeGoods was introduced in 1992 and now operates about 400 stores throughout the United States. The retailer offers home fashions at 20 percent to 60 percent less than department and specialty store prices. Its broad and fresh array of merchandise includes giftware, home basics, furniture and accent furniture, lighting, rugs, bedding, decorative accessories, children’s furniture, seasonal merchandise and wall decor, and items for the kitchen and dining room, among other fashions for the home.
A project of National RE/sources, Edgewater Harbor sits on the 21–acre former Unilever R&D campus, providing Hudson River views and a coveted Gold Coast address. At build–out, Edgewater Harbor will include 480 high–end loft and apartment residences and a 1,900–foot river walk along the Hudson. The property’s first two residential buildings feature ground-level retail space along the project’s Main Street; HomeGoods was the first tenant committed to that portion of the project.
Edgewater Harbor–s retail component serves a population of more than two million people within a five–mile radius. Some 896,000 households within that same radius boast an average income exceeding $107,000. The property’s location – equidistant from the George Washington Bridge and Lincoln Tunnel – makes it easily accessible to shoppers from both New Jersey and Manhattan. Retailers already open at Edgewater Harbor include CVS Pharmacy, Moe’s Southwest Grill and Beach Bum Tanning. Tenants imminently opening include Great Clips, Floris Nails & Spa, European Wax Center, Five Guys Burgers and Fries, and Haven Riverfront Restaurant & Bar.
With today’s consumers more value conscious than ever before, off–price companies have carved a unique niche in the retail industry, allowing shoppers to affordably update their homes and wardrobes without sacrificing quality or style. “Edgewater Harbor, with its prime location at the intersection of River and Gorge roads, continues to attract high–quality tenants,” said Michael Cohen, vice–president of leasing. “We are excited to bring the HomeGoods concept to area shoppers, and are confident the new store will be a welcome addition to the local retail community.”
Having celebrated its 60th year in 2012, Levin Management is one of the nation’s leading retail real estate services firms, with a strong focus in the northeastern United States and an owner’s approach to the business. Today, the North Plainfield, N.J., company offers a full range of services for a diverse 90–property, 12.5 million–square–foot portfolio. These assets include neighborhood, community, lifestyle and power centers, as well as enclosed malls, downtown stores and mixed–use projects in New Jersey, New York, Pennsylvania, Virginia, and North Carolina. Levin specializes in repositioning, retenanting and renovating retail properties – areas that have become particularly vital for today’s institutional, fiduciary and individual property owners.