10A — June 23 - July 13, 2017 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
Delavale of Breslin Realty inks lease for Stewart’s Restaurant
Sackeim of The Dartmouth Co. of NJ reps. the tenant Ripco Real Estate represents Eastman Cos. in 3200 s/f lease L IVINGSTON, NJ — CycleBar has signed a lease for 3,200 s/f at
The Shoppes at the Livings- ton Circle in Livingston. The 93,000 s/f open-air shopping center, located at 277 Eisen- hower Parkway, is managed and developed by Livingston- based Eastman Companies . The transaction was negoti- ated by Florian Susserman and Stephanie Harris of Ripco Real Estate Corp. for Eastman Companies. Jamie Sackeim of The Dartmouth Company of NJ, LLC repre- sented the tenant. n
Stewart’s Restaurant
Wantagh, NY — Breslin Realty is proud to announce the recent Grand Opening of Stewart’s Restaurant at 1161 Wantagh Ave. in Wantagh, at Willow Wood Shoppes. Stewart’s Restaurant is
occupying 3,000 s/f of the shopping center, in the space formerly occupied by Spasso’s Pizzeria. Stewart’s Restaurants are classic 1950’s style fast-food restaurants with stores across the north-eastern United States. Their new Wantagh location will be their first on Long Island. The transaction was ar- ranged and negotiated for the landlord by Robert Delavale of the Breslin organization. Additional Willow Wood re- tail includes Petco, Starbucks, Piecraft Pizza Bar, Jani Res- taurant, Kidville, ProHealth Care Associates, Astoria Bank, Weight Watchers, NEFCU, Stand Up MRI, Ascent Audiol- ogy, Supercuts, Yogurt City, Peak Performance Physical Therapy, and Dina’s Nails. n continued from page 3A The Eds & Meds . . . with high concentrations of Eds & Meds may buffer their multifamily and retail markets from larger declines in rent and occupancy than metros with a lower Eds &Meds pres- ence may experience. Data for the 2001 recession revealed a similarly credible relationship for multifamily markets but were inconclusive for retail, as a majority of retail markets did not incur rent declines during that business cycle. Conclusion With remarkably stable long-term growth, the Eds & Meds industry continues to infiltrate the various sectors of commercial real estate. The credible relationship between the concentration of Eds & Meds in a metro’s local econo- my and the volatility its mul- tifamily and retail markets experience may be particularly valuable to commercial real estate stakeholders at this stage of the cycle. Ian Anderson is the direc- tor of Research and Analy- sis at CBRE for the Greater Philadelphia region. n
The Shoppes at the Livingston Circle
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