Location
1153 Broad Street (between Parkhurst and Murray Streets), Newark, Essex County, NJ
Property Description
Lilac Plaza offers new retail development in the heart of Newark's most active residential conversion zones and will consist of two adjacent parcels, proposed for a 3,500 SF stand-alone building on .35 acres and a 15,000 SF multi-tenant neighborhood shopping center. Well positioned in Newark's South Ward, Lilac Plaza provides exceptional visibility, multiple access/egress and immediate proximity to Interstate 78 and State Highway Route 21. Pending city approval the development will stand out as the premier neighborhood shopping center catering to the needs of surrounding residential neighborhoods and commuter traffic along the main roadway into downtown Newark.
Available Space
North Building: Approved free-standing 3,500 SF retail building on .35 acres with potential drive-thru - Ground Lease or Build to Suit
South Building: Proposed single story 15,000 SF multi-tenant retail building (divisible to ±1,260 SF)
Rental Rate
North Building: TBD pursuant to specifications
South Building: $25.00 - $27.00 PSF NNN
Possession
Proposed Construction 2Q '10
North Building: Projected Delivery - 150 days from Lease Execution and Building Permits
South Building: Projected Delivery 4Q '10
Parking
North Building: Approx. 20 cars (5.7/1,000 SF)
South Building: 60 cars (4/1,000 SF)
Comments
·1/2 mile North I-78 & US Route 22, one block West Route 21
·Zoned "Second Business" allowing for a wide variety of retail and service uses including: Banks, Specialty Grocer, Liquor/Packaged Goods, Restaurants, Convenience, Fitness, Salons, Apparel, Electronics, Automotive, Applicant, Floor/Wall Covering and Furniture.
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