Find in the news:
BY COUNTRY

This NJ Shopping Center Is Fully Occupied. Here’s Why



An open-air shopping center in northern New Jersey is currently operating at 100% occupancy level.
Capstone Realty Group purchased the Edgewater Marketplace back in 2013. The shopping center is located along the Hudson River, just across from New York City. The price tag came in at $21 million, and the center was only 73% leased at the time of sale. Earlier this year, the more than 88,000 square foot shopping center became 100% leased. 

“The Internet’s not going to hurt this center at all," according to Rob Friedberg, managing partner of Capstone. So why is Rob so confident? They’ve filled the shopping center with tenants that are not affected by the world of online sales, and are not constantly in a rush to operate at dangerously low margins just to keep pace. 

Edgewater Marketplace features multiple service-related businesses, restaurants, a pet boarding and day-care facility, and a walk-in medical clinic to name a few. Capstone enlisted nearby Ripco Real Estate to fill the center with tenants that will draw a steady stream of people to the center. As opposed to an electronics or clothing retailer that may be undercut by one of the retail behemoths and face financial peril, it’s pretty hard for the Amazon’s and Wal-Mart’s of the world to compete in the areas of sit-down dining, medical services, fitness classes or beauty treatments, for example. 

Capstone is not the only shopping center owner in the state of New Jersey that subscribes to this theory either. George Jacobs is the managing partner of the Styvertowne Shopping Center in Clifton, and is the developer and owner of several other centers throughout the Garden State. He shares a very similar philosophy to Capstone’s in terms of filling space. 

“I want tenants that sell something not easily delivered to your door. Anything that’s a commodity, where it’s the same whether it’s online or in the store, and it’s not consumable, merchants are having a hard time competing. I’m not interested in something that’s going to be eaten alive by the Internet," he said.
Jacobs is particularly fond of medical tenants, and notes that the medical community is beginning to recognize the value of a presence in a retail center. Grocery and restaurants remain as the primary drivers for traffic to shopping centers, but the concept of focusing on medical, services and destination-type merchants and providers to fill the remainder of the space should be squarely on the radar of center owners and developers.    

More about shopping malls in the USA



YESTERDAY, Japan:
The top floor of the world's most popular Japanese department store now has its cafe.
YESTERDAY, USA:
The owners of the American Dream decided not to wait until the luxury "Avenue" was at least half full.
Sep 17, 2021, USA:
The retailer is ready to invest in retail development in the U.S. market, which was hit by the crisis.
Sep 17, 2021, Spain:
Worldwide sales are recovering, both at retail and through online channels.
Sep 15, 2021, France:
The total area of the new retail space in the Madeleine area will be 724 square meters.
Sep 14, 2021, USA:
The 30-day subscription, which allows you to buy one taco a day, costs $5 and $10.
Friend
and Follow
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
Adigeo GLA:452 084 SF
ADDRESS: Verona city center
Italy . Verona
Adigeo
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us