R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined — June 17 - July 21, 2022 — 3A
www.marej.com
Nathanson and Siegel represent seller and procure buyer, Prestige Properties Institutional Property Advisors closes Northern New Jersey shopping center anchored by LA Fitness
U
traveled Rte. 22 is highlighted by the fact it is shadow-an- chored by highly successful Costco with combined visits of over 3.5 million in the trail- ing 12 months,” said Brad Nathanson , IPA senior man- aging director investments. Nathanson and Steven Siegel , IPA senior managing director investments, represented the seller, Sun Equity Partners LLC , and procured the buyer, Prestige Properties . Sam Shalem , principal for Pres- tige Properties said: “Prestige Properties specializes in the acquisition, development and management of institutional- quality retail assets. Greenleaf at Union is a great addition to our more than 5.6 million s/f of retail properties under ownership in the New York, New Jersey, Pennsylvania, Massachusetts, Connecticut and Florida markets.” MAREJ
NION TOWNSHIP, NJ — Institutional Property Advisors
(IPA) , a division of Marcus & Millichap, announced the sale of Greenleaf at Union, a 100%-occupied, 109,828 s/f community shopping center located on US Rte. 22 in Union Twp. Developed in 2017, Greenleaf at Union is anchored by a LA Fitness Signature Club and Bob’s Discount Furniture. The center also has 27,000 s/f of small shop space that is 100% occupied by national tenants including Sleep Number, First Watch, Red Wing Shoes and Crumbl Cookies. It is the first shopping center off the Garden State Pkwy. on Rte. 22 West that commuters encounter on their way from New York City. Retailers, including Walmart, Home Depot, Target, ShopRite, Lidl, Lowes, and Burlington GREENVILLE, DE — Pet- tinaro has announced seven new retail tenants at its 56- acre, mixed-use development, known as Barley Mill, located in Greenville, DE. The follow- ing are tenants signed for the Barley Mill retail buildings: • Wegmans Food Market – Mid-Atlantic and Northeast regional food market • First Watch – An Ameri - can style breakfast and lunch establishment • McGlynns Pub – A family style sports bar and restaurant • La Tolteca - Authentic Mexican cuisine restaurant • GoHealth Urgent Care – A joint partnership with Chris- tiana Care health services • Performance Physical Therapy & Fitness – Expan- sion of a local physical therapy group • Spa #1 Nails - A spa pro - viding nail salon, waxing, and eyelash services These tenants are scheduled to open for business in the late Summer and Fall of 2022. Pet- tinaro is also in active discus-
Greenleaf at Union
have some of their highest volume units along the Route 22 retail corridor, which sees approximately 90,000 vehicles
travelling eastward daily. “Greenleaf at Union repre- sents one of the rare new shop- ping centers built in Northern
New Jersey in the past five years. Within close proximity to NYC, the trophy nature of the center’s location along heavily
Pettinaro announces 7 new retail tenants at its 56-acre, mixed-use development located in Greenville, Delaware
Barley Mill Plaza
sions with several other retail tenants and anticipate having several more tenants joining the roster of Barley Mill soon. In addition to the retail buildings, a 105,303 s/f three- story class A office building is also currently under con- struction. A lease has already been signed by one nationally recognized office tenant to oc - cupy 22,000 s/f of area in the
building. This office building is scheduled to be completed in mid-2023 as well. Another 52,000 s/f office is available for development at Barley Mill. The 80 luxury flats will be constructed at the property in the near future. Montchanin Builders has commenced construction of 33 townhomes for sale at Barley Mill and currently 11 of the
townhomes have been sold. Barley Mill includes retail buildings, office buildings, luxury flats, and townhomes. The retail component of Barley Mill is comprised of four newly constructed buildings totaling 34,700 s/f of retail uses. Also, there is an undevel- oped pad site available for lease of up to 4,000 s/f of building area.
Two of the new retail build- ings, totaling 15,000 s/f, are devoted to restaurants, with the balance available for lease to many different retail users. The center piece of the Barley Mill development is the build- ing leased to Wegmans Food Market, the first Wegmans to be constructed in Delaware. Wegmans is scheduled to open in the Fall of 2022. MAREJ
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