M id A tlantic S hopping C enters 156,530 s/f of new retail and entertainment space in New Jersey NRDC signs first anchor tenants at The Shoppes at Middletown

Real Estate Journal — Shopping Centers — May 26 - June 8, 2017 — 5A



seating area will complement the center’s overall outdoor dining concept. “This is not your ordinary shopping center. The Shoppes at Middletown will greatly en- hance the retail environment along this part of the Rte. 35 in keeping with the charm of the community,” said John Or- rico , president at NRDC. “We are completely reimagining the shopping, dining and entertain- ment experience by providing a lively walk-able space with wide sidewalks for outdoor dining and comfortable seating areas. The center’s design will incorporate green technology such as vehicle charging sta- tions, energy efficient lighting and drought tolerant plants throughout its landscape. We are excited to welcome our first tenants to this truly unique town destination.” n Parkway. The development will feature direct right-in and right-out access on Rte. 17 South, and accessibility from Rte. 17 North via a convenient turn-around at Midland Av- enue. Advance and Invesco Real Estate have tapped Jamie Sackeim and Vicki Ezra of The Dartmouth Company to serve as leasing agents for Paramus Crossroads. “Paramus Crossroads’ prime location, in the heart of one of the most prominent shopping destinations in the country, of- fers tenants excellent visibility along a thoroughfare that’s uti- lized daily by residents, commut- ers, and shoppers alike, given the borough’s prime access to four major malls and several ma- jor arteries to New York City,” Sackeim said. “Tenants also benefit from the fact that nearly a million people live in Bergen County, which boasts one of the highest average household in- come levels in the United States at $112,745 – good for 16th in the entire nation.” n

iddletown, NJ — National Realty & Development

Corp., (NRDC) , recently an- nounced it has signed its first anchor tenants at their new- est development, The Shoppes at Middletown, in Middle- town. Wegmans Food Markets (130,000 s/f) and CMX, The VIP Cinema Experience (26,530 s/f) will join the 340,000 s/f town center. The Shoppes at Middletown will offer a blend of national, regional and local specialty retailers and restau- rants with open café space. The project will be located on Rte. 35 at the intersection of Kings Highway East in eastern Mon- mouth County. The new Wegmans stores feature a European open air café concept that include dis- plays of fresh produce, meats, fresh-caught seafood, deli prod- PARAMUS, NJ — The part- nership of Advance Realty and Invesco Real Estate , a global real estate investment manager, has received approval from the Borough of Paramus to move forward with its plan to redevelop a portion of Ber- gen County’s Rte. 17 retail corridor with the creation of a dynamic shopping and dining destination known as Paramus Crossroads. Advance will demolish an antiquated office building at 289-315 Rte. 17 South, making way for the development of a new 40,000 s/f, modern retail facility featuring spaces rang- ing from 1,500 s/f to as large as 20,000 s/f. The new building will complement the site’s two existing buildings—occupied by PGA Tour Superstore and P.C. Richard & Son, respectively — to create a retail environ- ment conducive to the modern shopper. The partnership will fill the new building with a diverse mix of dining options and specialty retailers not cur- rently found in the immediate

The Shoppes at Middletown Year in a Row Fortune Names Wegmans as “Fortune’s 100 Best Companies to Work For,” with a #2 ranking in 2017. CMX, The VIP Cinema Ex- perience will feature 6 screens

with oversized reclining seats, in-seat as well as Grab & Go gourmet dining options and an exceptional assortment of wines and handcrafted cock- tails. The theater’s outdoor

ucts, international foods, plus all the grocery and household items usually found in a super- market. Currently, Wegmans operates only seven other loca- tions in NJ and for the 20th

Advance Realty & Invesco Real Estate receive approval to develop Paramus Crossroads, NJ’s newest retail destination

Paramus Crossroads

area. Restaurants will be able to take advantage of outdoor seat- ing, creating an enjoyable and inviting atmosphere for diners. Located at the highly-traf- ficked intersection of Rte. 17 and the Garden State Parkway, Paramus Crossroads is in the heart of one of the most promi- nent shopping destinations in the United States. Demolition will begin summer 2017 with delivery scheduled for summer 2018. “Since acquiring 289-315 Rte. 17 South, which is situated in one of the most desirable

retail corridors in the United States, Advance and Invesco Real Estate have had a shared vision for howwe could enhance the shopping experience,” said Peter Cocoziello, Advance Realty’s founder and chief ex- ecutive officer. “We’re extremely excited to receive the approvals from the Borough of Paramus, and we look forward to bringing exciting new shopping and din- ing options to an area.” Paramus Crossroads pro- vides retailers with excellent visibility at the center of a densely-populated market, with

more than 120,000 residents in just a three-mile radius, and more than 1.4 million people within 10 miles. Paramus also lays claim to a daytime popula- tion of nearly 250,000 within just five miles of Paramus Crossroads, which is shadow- anchored by the Westfield Gar- den State Plaza — the third- largest mall in the New York Metropolitan Area. The center will boast pic- turesque landscaping, bold architecture with facades, and signage visible from both sides of Rte. 17 and the Garden State

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