16B — July 27 - August 16, 2012 — Shopping Centers — Mid Atlantic Real Estate Journal
www.marejournal.com
By John M. Azarian, CSM & Kevin Pelio, The Azarian Group Redevelopment of the Hyde Park Mall is now underway R ETAIL R EDEVELOPMENT P ROPERTY
T
he Azarian Group, L.L.C. is pleased to announce that the
long awaited redevelopment of the Hyde Park Mall is now underway. Construc- tion began in May and is scheduled to be complet- ed by October 15, 2012. A Grand Opening will take place around November 1, 2012. The redevelopment includes the addition of a 55,000 s/f Super Stop and Shop and Stop and Shop fueling facility. In addition, The Azarian Group will be expanding the Hyde Park Mall and renovating the fa- çade and entire site. Based upon these latest develop- ments, The Azarian Group has initiated an aggressive leasing program to lease the available space in the Hyde Park Mall. Available spaces range from 3,040 s/f to 35,460 s/f. The Azarian Group is up- grading the entire façade of the Hyde Park Mall and site which will include a mod- ern stucco fascia with new uniform store signage, new traffic circulation and park- ing layout, new landscaping, high efficiency site lighting, integrated sidewalks with the township and many more upgrades. The new state of the art Super Stop & Shop will feature varied departments within the store such as a freshly prepared food sec- tion that offers customer seating and also banking services. In addition, pa- trons will be able to receive discounts on gasoline at the adjacent fueling facility with food purchases at the supermarket, through their Gas Rewards program. ThenewStopandShopwill offer the newest mechanical and refrigeration systems that will enhance operat- ing efficiencies throughout the store. Also, the store will introduce to Hyde Park technological advances such as the U-Scan system allow- ing customers to scan items before placing them in their carts, for a more efficient check out process. Directly adjacent to the new Super Stop and Shop, The Azarian Group will be constructing new retail space. This space will mea- sure approximately 2,000 s/f (25’ wide by 80’ ft. deep) and is an ideal location for
John M. Azarian
Kevin R. Pelio
Construction for the Hyde Park Mall is underway
Construction for the Hyde Park Mall
Hyde Park Mall Site Plan
Hyde Park Mall Exterior Elevations
a quick service restaurant and various retail uses. Prior to construction, Az- arian Realty Co. was able to prelease vacancies to a nail salon, local karate stu- dio, and others. Other ten- ants include Radio Shack and Hudson Valley Federal Credit Union. Currently, the mall has junior anchor
opportunities along with smaller inline retail spaces that can accommodate a variety of retail, medical or office uses. Azarian Realty Co. is also in lease negotia- tions with national retailers for junior anchor space. TheAzarian Group, L.L.C. and Azarian Realty Co. cur- rently own, manage and
lease 20 income produc- ing properties totaling over 1,000,000 s/f with more than 300 tenants throughout New Jersey and New York. With over 40 years of ex- perience, TheAzarian Group offers hands on property management and leasing services for all types of com- mercial properties.
John M. Azarian, CSM, is the owner of The Az- arian Group, L.L.C. and Azarian Realty Co. He is a licensed real estate broker inNewJersey and New York. Kevin R. Pelio is an Assistant Property Manager and is a licensed real estate broker associate with the firms. n
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