Paramus Crossroads on Route 17 South in Paramus — Courtesy: Advance Realty Investors
By Joshua Burd
Advance Realty Investors has signed five new leases at a Paramus retail center, bringing it to full occupancy after a recent redevelopment of the Route 17 property.
The tenants — Big Blue Swim School, Family Dentistry, Sandbox VR, Kids Empire and Restore Hyper Wellness — committed to a combined 32,250 square feet at what’s known as Paramus Crossroads. They are slated to open in early to mid-2022, Advance said, joining several eateries, service providers and other tenants along Route 17 South, about a mile from Midland Avenue.
Newmark managing directors Dean Tselepis and Jeff Kolodkin represented ownership in the deals.
“The challenges presented to the retail industry, particularly in the last year and a half, have been incredible and unrelenting,” said Peter J. Cocoziello, Advance’s founder and CEO. “Despite that, today we celebrate reaching 100 percent occupancy at Paramus Crossroads. This hard-earned milestone and the continued leasing success serves as true testament to the quality of the project, its ideal location in one of the busiest shopping locales in the state, and of course, to the ongoing hard work of both the Advance team and our project partners.”
The largest of the new tenants is Big Blue Swim School, which will occupy roughly 10,000 square feet, according to a news release. Kids Empire is taking about 9,500 square feet for its sixth children’s play center in New Jersey, while Sandbox VR, a futuristic virtual reality experience with more than 10 locations nationwide, is leasing around 7,000 square feet.
Restore Hyper Wellness has taken 3,350 square feet, while Family Dentistry is set to occupy 2,400 square feet of office space.
“Seeing the vision for Paramus Crossroads come to life and become a dynamic, vibrant destination for the region is truly inspiring,” said Jared Minatelli, head of asset management at Advance. “Despite the many unforeseen roadblocks the retail industry has faced, Paramus Crossroad’s has demonstrated resilience and gone on to attract a diverse array of top-tier, quality tenants. Today’s success has been the result of a long, but incredibly rewarding journey and we simply could not be prouder of the final product.”
The operators join recently added tenants such as Tacoria Mexican Street Kitchen, which opened earlier this year, and Trinity Rehab, Jersey Mike’s, Urban Bricks Pizza and TREK Bikes, which debuted at Paramus Crossroads in summer 2020.
Located at the intersection of the Garden State Parkway, Paramus Crossroads boasts the borough’s first newly constructed retail space in more than a decade. The overall 108,400-square foot property is also anchored by PGA Tour Superstore.