24A —January 21 - February 17, 2022 — Retail Development Reimagined — M id A tlantic Real Estate Journal
www.marej.com
R etail D evelopment R eimagined
Stewart, Morris & Villamagna place $19 Million loan CronheimMortgage finances grocery-anchored retail center
West Orange property developed by Prism The Shoppes at Edison Village adds three new tenants
WEST ORANGE, NJ — Three tenants are coming to The Shoppes at Edison Village on Main St. in West Orange, developed by Prism Capi- tal Partners . Late winter/ early spring 2022 openings are anticipated for BK Lobster restaurant, SportsMed Physi - cal Therapy and Golden Aide Health & Pharmacy. The tenants leased a com - bined total of 7,700 s/f at the high-profile redevelopment of Thomas Edison’s historic In - vention Factory and Commerce Center, which includes 334 rental homes at Edison Lofts. “Prism is thrilled to welcome these value-add retail tenants
EST WINDSOR, NJ — Cronheim Mortgage has se- cured $19 million in perma- nent financing for The Shops at Windsor Green, a 157,200 s/f grocery-anchored retail center located in West Wind- sor. Andrew Stewart, Dev Morris , and Allison Villa- magna placed the loan with one of Cronheim’s life insur - ance company correspondents. The financing was structured on a 7-year termwith funds set aside for façade and parking lot renovations. The interest rate is fixed at 3.00%. The property W
and closing of the loan. The subject property is an - chored by Whole Foods, Mar - shall’s and Staples. The prop - erty was constructed in 1993 and was originally anchored by a Pathmark supermarket. In May of 2004, the Pathmark was replaced by the Whole Foods that currently occupies the same space and is complemented by Marshall’s, Staples, and a mix of local and regional, tenants including Dogs and Cats Rule pet supplies, Honor Yoga, Noth - ing Bundt Cakes, Jersey Mike’s Subs, the Haircuttery, among many others. MAREJ
The Shoppes at Edison Village to the dynamic Edison Village community,” said Jon Hoff , senior vice president – manage - ment services. “Each will serve the local community while providing an added amenity and convenience for residents at Edison Lofts, which reached full occupancy this fall.” DebStone from RIPCOReal Estate represented Edison Vil - lage as retail leasing agent for the BK Lobster and Golden Aide Health & Pharmacy leases. The 3,000 s/f restaurant will boast outdoor seating. Golden Aide Health & Pharmacy committed to 1,700 s/f. Judith Feldman and Jean- nette Melillo from Newmark represented landlord in the SportsMed lease. SportsMed Physical Therapy, a regional chain with 24 locations in New Jersey and Connecticut, will open a 3,000 s/f location provid - ing physical therapy, chiroprac - tic services and acupuncture, as well as hand and occupational therapy services. the economic climate is con- stantly changing. Therefore, it is important to consult with an experienced commercial real estate advisor, tax advi - sor, and attorney to determine the implications of doing a tax deferred exchange and how best to achieve your invest - ment goals. Patten Mills is project coordinator at ROCK Com- mercial Real Estate, LLC. Kevin Hodge is a bro- kerage advisor at ROCK Commercial Real Estate, LLC. MAREJ The 101 on the . . . continued from page 22A According to Hoff, leasing opportunities are still available within The Shoppes at Edison Village, with units ranging from 1,200 to 11,000 s/f. “We are working on a couple of proposals with restaurateurs that we are excited about,” Hoff added. “In addition to its appeal for traditional retail, The Shop - pes’ state-of-the-art mechanics and high ceilings create an ideal environment for medical users as well.” MAREJ
The Shops at Windsor Green is owned by an affiliate of the Mainardi Management Co. of Wayne. Principals Andrew Mainardi, III and Richard Mainardi, Jr. were actively involved in the negotiations
Relocation Opportunities Wanted
PENNSYLVANIA COUNTIES OF INTEREST INCLUDE: Bradford, Bucks, Carbon, Columbia, Lackawanna, Lehigh, Luzerne, Lycoming, Monroe, Northampton, Pike, Schuylkill, Sullivan, Susquehanna, Tioga, Wayne, Wyoming TYPES OF LOCATIONS WANTED: End Cap, In-Line, Drive-Thru, Free Standing
PLEASE CONTACT: Abbie Muto muto_a@sdepa.com | Cheryl Green green_c@sdepa.com (610) 366-8120 • www.sdepa.com
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