RH Outlet at 200 IKEA Drive in Paramus — Courtesy: Levin Management Corp.
By Joshua Burd
RH Outlet has a new address in Paramus, unveiling a nearly 51,000-square-foot store under a lease arranged by RIPCO Real Estate and Levin Management Corp.
The retailer, known for its luxury home furnishings, has opened at 200 IKEA Drive in a prime location at the nexus of routes 4 and 17. In the process, it has brought new life to a long-vacant former Sports Authority store in the North Jersey retail mecca, where it has had a presence since 2016 and recently sought a more prominent location.
RIPCO’s Curtis Nassau and Patrick Brake represented RH Outlet in the 50,700-square-foot deal, while Ed Vasconcellos and Vanessa Kelty of Levin Management Corp. represented ownership.
“It is no surprise that RH Outlet chose to remain in Paramus, one of the most dominant retail markets in the United States,” said Nassau, an executive vice president with RIPCO. “The property benefits from exceptional retail density, with five major regional shopping centers within 2.5 miles, including Garden State Plaza, Bergen Towne Center, Paramus Park, The Fashion Center and The Shops at Riverside.
“This unmatched concentration of retail, combined with excellent highway access and regional connectivity, makes Paramus a premier shopping destination and draws consumers from across North Jersey, New York City and the greater tristate area.”
In a separate announcement, LMC said the deal reflects continued demand for high-quality home furnishings and further strengthens Ikea Drive Plaza, which is anchored by IKEA, within one of New Jersey’s most active retail corridors. The new addition to the site will give customers access to RH’s signature furniture, lighting, textiles, décor and outdoor collections at outlet pricing.
“RH Outlet is a terrific addition to Ikea Drive Plaza and the greater Paramus retail market,” said Kelty, a senior leasing representative with LMC. “The brand’s strong following and elevated home furnishings offering make it an ideal fit for this highly visible location.”
IKEA Drive Plaza benefits from its easy access to highways that also include the Garden State Parkway and the dense, affluent population that surrounds it, LMC said. RIPCO, for its part, noted that routes 4 and 17 have average daily traffic counts of roughly 122,000 and 134,000 vehicles, respectively.
“After a detailed and thorough search, we are so pleased to have been able to help RH Outlet identify a location that they were able to make a long-term commitment to servicing the greater North Jersey community from,” said Brake, a managing director at RIPCO.
