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, North America, North America:
A retailer has filed several new trademark applications, indicating that it intends to produce and sell virtual goods.
Jan 15, 2022, United Kingdom:
Selfridges will be the first-ever entry into the meta-universe, and for the department store's customers, it will be a unique token buying experience.
Jan 15, 2022, Japan:
Fast Retailing CFO: "It's time to review and raise prices on some products as we face higher costs."
Jan 14, 2022, USA:
Employees who have not been vaccinated could be laid off as early as January 15, 2022.
Jan 14, 2022, United Kingdom:
Among the top three streets in the world are London's Oxford Street, Madrid's Gran Via, and New York's Fifth Avenue.
Jan 13, 2022, China:
A total of 12 flagship department stores, 90 stores, and more than 60 catering facilities will be located at the complex.
Friend
and Follow
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007
Aviapark GLA:2 475 699 SF
ADDRESS: ul. Aviakonstruktora Mikoyana, 10
Russia . Moscow region
Aviapark
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping


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