10A — August 28 - September 10, 2020 — Retail Development Reimagined — M id A tlantic Real Estate Journal
www.marej.com
R etail D evelopment R eimagined
RJ Brunelli &Co. reps. Family Dollar & Jeffery Realty reps. Larken Associates in transaction Larken Associates inks lease to bring Dollar Tree to Echo Plaza Shopping Center in Springfield, NJ S
trusted regional and national brands, Dollar Tree’s shoppers are able to pick from a diverse selection of housewares, glass- ware, cleaning supplies, food, health and beauty, toys, gifts, party supplies, books, seasonal décor, and more all for one dol- lar or less. Located in the heart of the most heavily trafficked retail corridor in northern New Jersey, Echo Plaza Shopping Center is a 66,567 s/f com- munity retail center with ample highway frontage along Rte. 22 and Mountain Ave. The shopping center features
superior visibility and acces- sibility making it a highly attractive destination for a diverse range of tenants. The center also includes Larken Associates’ Echo Executive Plaza, a 41,000 s/f class A of- fice building that is home to a wide range of financial, insur - ance, medical and professional services companies. The lease deal highlights the continued expansion of Larken Associates’ relationship with Dollar Tree. Their new Spring- field store will be the third Dollar Tree location within Larken Associates’ portfolio with stores already located in its Tilghman Square Shopping Center in Allentown, PA and its Fairless Hills Shopping Center in Fairless Hills, PA. Larken Associates’ Allentown Commons in Allentown, PA is also home to a Family Dollar store, which is part of the Dol- lar Tree family. “Our longstanding relation- ships with Dollar Tree as well as with other national retailers is not only a testament to our high-quality and well-located retail inventory across the East Coast but also a direct result of our team’s property management expertise,” said Victor Kelly , executive vice president of Raider Realty , the in-house brokerage divi- sion of Larken Associates. “We are pleased to welcome Dollar Tree to Echo Plaza Shopping Center and look forward to continuing to build upon our successful relationship.” RJ Brunelli & Co. rep- resented Family Dollar and Jeffery Realty Inc. repre- sented Larken Associates in the transaction. MAREJ KLNB announces sale of Powder Mill Station Retail Center WASHINGTON, DC — KLNB announced the sale of Powder Mill Station in Belts- ville, an 11,577 s/f retail strip center less than two miles north of the DC Beltway. Despite the turbulent mar- ket caused by the pandemic, the property was sold at the original asking price of $3.22M. KLNB represented the seller, an affiliate of CRC Commercial , the property’s original developers, and also procured the buyer Ayala Vado Group. MAREJ
PRINGFIELD, NJ — Larken Associates , a regional commercial and residential real estate building, development and management, announces it has negotiated a new lease deal with Dollar Tree for 12,680 s/f of retail space at Echo Plaza Shopping Center located at 901 Mountain Ave. in Springfield. Dollar Tree is a national retailer with thousands of stores conveniently located within shopping centers in all contiguous 48 states. Car- rying a broad, exciting mix of
Echo Plaza Shopping Center
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T O G AL W TO H 732.721.5800 | RJBRUNELLI.COM 400 PERRINE ROAD SUITE 405 OLD BRIDGE, NJ 08857
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