Real Estate Journal — Shopping Centers — Retail Architecture/Construction/Engineering — May 26 - June 8, 2017 — 9A
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M id A tlantic
R etail A rchitecture /C onstruction /E ngineering Retail portion of Tucker Development’s mixed-use development is now 85% leased Transformation of Newark’s University Heights neighborhood continues as seven new retailers
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neighborhood’s desirability. “When we identified this location for our development, we recognized that creating a vibrant, multi-faceted prop- erty could improve this part of Newark in a tangible way,” said Richard Tucker , CEO of Tucker Development, a nation- al leader in the development of retail centers and mixed- use properties. “With Ashley Stewart opening its doors, sev- eral other shops coming within weeks, and our apartments at 24 Jones approaching full oc- cupancy, it’s very gratifying to see our vision for Springfield
Avenue Marketplace coming to fruition.” University Heights provides residents with convenient ac- cess to Penn Station, NJ Tran- sit and the New Jersey Turn- pike. Further bolstering the location’s connectivity is the bus stop on Springfield Avenue and Jones St., which services lines 1, 99, 25, and GO25, pro- viding seamless accessibility for shoppers and residents. “One of the reasons we love this location is its convenient access to Rutgers University Hospital, Rutgers’ Newark campus, NJIT, Seton Hall
and other educational institu- tions,” Tucker said. “It gives us great pride to see the mix of longtime Newark residents, students and newcomers to the city moving into 24 Jones and using the shopping center daily. University Heights’ proximity to major job centers makes the area very attractive to young professionals, and there’s little doubt that the area’s star is rising quickly.” Tucker’s sentiments are echoed by the retailers that have opened their doors at Springfield Avenue Market- place over the past 18 months.
In addition to ShopRite, the development is home to Sarku Japan, Taco Bell and McDon- ald’s. “Springfield Avenue Market- place has brought something very special to this area of Newark, and we’re excited to be a part of it,” stated David Lee, senior marketing manager for Sarku Japan. “Since open- ing in December, we’ve drawn a steady stream of customers including local residents, stu- dents and hospital workers, and we’re proud to be a part of this transformative environ- ment.” n
EWARK, NJ — Tuck- er Development’s vision for creating a
vibrant and diverse shopping destination in Newark’s Uni- versity Heights neighborhood continued to take shape, as the company announced the addition of seven retailers to the growing mix of tenants at Springfield Avenue Market- place. The mixed-use development, which is anchored by a high- ly successful ShopRite that opened Fall 2015, has energized University Heights and the surrounding area by delivering 115,000 s/f of new retail space, and is serving the area’s need for high-quality housing op- tions with a 152-unit luxury apartment building known as 24 Jones. Retailers joining the mix include: • Plus-size clothier Ashley Stewart, which signed a 4,500 s/f lease, opens today • Popeyes Lousiana Kitchen, which signed a 1,800 s/f lease, will open this Spring • MetroPCS, which signed a 800 s/f lease, will open this Spring • Huddle House, a popular breakfast eatery, signed a 2,400 s/f lease, and will open this Summer • T-Mobile, which signed a 1,800 s/f lease, will open late Summer • Roberto’s Pizza signed a 2,100 s/f lease, will open late this Summer • Venus Beauty signed a 3,500 s/f lease, will open late this Summer “With a scarcity of retail availabilities within new gro- cery-anchored developments, Springfield Avenue Market- place presents a unique oppor- tunity for clothiers, restaura- teurs and other retailers,” said Jake Frantzman of Ripco Real Estate . “With grocery, fashion and dining already on- site, the development presents a perfect retail environment, so it’s no surprise the property is 85-percent leased after such a short period of time.” Since opening in September 2015, Springfield Avenue Mar- ketplace has played a major role in the ongoing transforma- tion of University Heights, at- tracting new residents – largely professionals and graduate students – while bringing the area an array of shopping op- tions that has increased the
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