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Newark Retail Center Filling Up Fast
April 21, 2017
Seven new retailers have signed leases at the Springfield Avenue Marketplace, which opened in September 2015 on Springfield Ave. in the University Heights neighborhood of Newark, NJ.
The 115,000 square feet of retail space at the mixed-use property is now 85% occupied, with tenants including a ShopRite grocery store. This month, the clothier Ashley Stewart opened a 4,500-square-foot shop. Six other retailers, including two cell phone stores, three restaurants and a beauty shop, will open by the end of summer.
“With a scarcity of retail availabilities within new grocery-anchored developments, Springfield Avenue Marketplace presents a unique opportunity for clothiers, restauranteurs and other retailers,” said Jake Frantzman of Ripco Real Estate, leasing agent for the property.
The development also includes 152 apartments at a mid-rise building called 24 Jones.
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