SRM Second Quarter News and Deals
Updated: Jul 11, 2022
David Greenman Announces Two Significant Retail Leases within Morris County's Prominent Lifestyle Shopping Center
SRM is pleased to announce two recently signed leases at The Streets of Chester located on State Route 206 in the Borough of Chester, Morris County, New Jersey. "Within the 106,000 SF shopping center managed and leased by our firm, the addition of a 3,700 SF, Athleta which is owned by Gap Inc, along with Banana Republic, Old Navy, and The Gap Store. This will be an outstanding addition to the region's prominent lifestyle center," according to David Greenman, SR VP of Retail Services. Athleta offers performance clothing for active women and girls and will be located adjacent to the existing 10,000 SF Gap & Gap Body stores. Additionally, Yoga Six, an Xponential Fitness company, will occupy 2,263 SF with a projected opening date in the coming weeks. The landlord was represented by David Greenman on both transactions.
Silbert Multi-Family Division Awarded Leasing and Property Management for Two Brand New Mixed-Use Developments by Elite Properties
President & CEO Brian S. Silbert and Leasing Associate Christian K. Harrington have recently been awarded the leasing assignments for both Elite Properties at Bedminster located on Lamington Road a/k/a Route 206 in Bedminster NJ and also Berkeley Crossing II located within Berkeley Heights NJ. These latest assignments offer comparable services by SRM as both properties afford just under 5,000 SF of prime ground floor retail space in two upper-middle-class areas.
Elite Properties at Bedminster offers a two-building mixed-use development consisting of 33 luxury apartments and 4,850 SF ground-level retail/professional space, within prestigious Northern Somerset County, and immediately off of exit 22 of I-287. The surrounding area includes over 2 million SF of Class “A” corporate office space including regional headquarters for both AT&T & Verizon, and less than two miles from Bedminster's The Hills shopping center, anchored by King's Supermarket.
Berkeley Crossing II, a
traditionally designed brand-new mixed-use complex situated on Springfield Avenue
(CR 512) along the primary east-west corridor between New Providence and Berkeley Heights and adjacent NJ Transit Rail station servicing the Morris and Essex line. The three-story redevelopment when completed will consist of 53 luxury apartments and 4,800 SF of ground-level retail/professional space suitable for medical, professional and office uses.
Silbert Brings to 100% Occupancy Downtown Westfield Mixed Use Commercial Property
Based upon its commercial leasing experience of over 35 years within Westfield, and through the efforts of Assistant VP of Retail Brokerage, Joel Tomlinson, and Property Manager and Leasing Associate, Christian Harrington, Silbert Realty & Management Co, Inc. are proud to announce the prominent downtown retail-office building is now 100% leased. Within five months of being awarded property management and leasing agent for 114 Central Ave, Westfield NJ, by longtime owner Chrone Real Estate Group the leasing team has successfully completed three new second-floor office transactions and one ground-level retail lease to Reves Smoothie Cafe. According to the property owner, Frank Altieri, "the decision to hire the Silbert Team was an excellent choice and they understand the business of commercial management and leasing."
Warren Township's Gateway East Complex Welcomes Two New Retail Tenants for Warren's Residents
As managing and leasing agent since the inception of the twin building retail and office complex, located directly opposite the Warren Township Municipal Facility and 1/4 mile east of the intersection of Mountain Boulevard and Mount Bethel Road, SRM is excited to welcome Brasa Wood-Fired Grill to Gateway East Shopping Center, which opened its doors in March. The brand-new sit-down and take-out restaurant will serve specialty
food items from Portugal, Spain, and South America, bringing a unique culinary experience to the Warren area. According to principal Jason Francisco, "Our unique cuisine should be a great addition to the growing community, both residents with families and surrounding businesses." In addition, Rita’s Italian Ice is nearly complete with its buildout and is estimated to be open in late June 2022. With Rita's second Somerset County location, the brand-new Italian Ice attraction is directly across from the Warren Recreation Area and with an abundance of new housing in the immediate area, Rita’s is expected to be a town favorite for Warren residents as well as nearby Watchung, Green Brook and Basking Ridge. "Truly exciting and a fun experience" according to a Warren Township Council member.