M id A tlantic Real Estate Journal — Shopping Centers —ICSC PA/NJ/DE Idea Conference & Deal Making —— August 25 - Sept. 14, 2017— 19C
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EDAR KNOLLS, NJ — Famous Footwear has leased 7,000 s/f Currently under development by Key Properties LLC Welkis of WelcoRealty arranges Famous Footwear lease at Hanover Crossroads in Cedar Knolls, NJ C ICSC PA/NJ/DE I dea C onference & D eal M aking
for a new location at Hanover Crossroads in Cedar Knolls. The global, brand-name shoe retailer joins a lineup of high- profile tenants at the 107,000 s/f shopping center, currently under development by Key Properties LLC . Jerry Welkis of Welco Realty Inc. , leasing agent for Hanover Crossroads, ar- ranged the long-term lease. David Dunkelman of Sol- off Retail represented the tenant. AutoZone, QuickChek and MedExpress Urgent Care recently opened for business at Hanover Crossroads, while construction is nearing com- pletion with summer openings anticipated for new T.J. Maxx, HomeGoods, Five Below and ULTA Beauty stores. “Momentum continues to build at Hanover Crossroads,” said David Schlussel, co-man- aging partner of Key Prop- erties. “Famous Footwear complements the property’s carefully curated tenant mix. This new store surely will be a welcome addition to the local retail community.” With more than 1,000 stores nationwide, Famous Footwear serves as a destination for ath- letic and casual name-brand shoes for the whole family. Stores offer styles for women, men and kids from brands like Nike, Converse, Vans, Sperry, Madden Girl, Skech- ers, ASICS and more. Located at 110 East Ha- nover Ave., at the signalized intersection of East Hanover and Ridgedale avenues, Ha- nover Crossroads sits just one mile from a four-way inter- change of I-287. The property and its immediate trade area serve a residential population expected to exceed 134,000 people within a five-mile ra- dius by 2021, and a daytime population of almost 180,000 people within those same five miles. “Hanover Crossroads’ strong demographics and visibility attracted Famous Footwear,” Welkis noted. “The presence of a strong co-tenancy also provided a significant draw.” Based in Teaneck, Key Prop- erties is a second-generation, family-owned and operated real estate development, con- struction and management firm. n
Hanover Crossroads in Cedar Knolls
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