By Joshua Burd
The new owner of a 130,000-square-foot retail portfolio in Hoboken has tapped Alvarez & Marsal Property Solutions as its leasing agent for the spaces.
The commercial real estate advisory firm, which is based in New York, will work on behalf of Asana Partners in the assignment at 1425 and 1450 Washington St. and 1100, 1125 and 1145 Maxwell Lane. The team noted that the spaces are at the base of newly built residential properties, providing a built-in population of affluent, well-educated consumers on two of the city’s busiest retail corridors.
“We are excited for the opportunity to advise on these high-quality retail properties in Hoboken and help bring exciting new businesses to the available space in the portfolio,” said Matthew Krell, managing director at AMPS. “Hoboken is one of the most walkable urban submarkets in the U.S. The area has seen sustained growth thanks to its diverse community, mix of historic and recently constructed properties, vibrant business environment and valuable transportation assets. We expect strong interest in the location from a wide range of local businesses and nationally recognized brands.”
Asana Partners acquired the portfolio in early 2021, seeking to capitalize on its location near the Hudson River, parks and the nearby Hoboken transit hub. The Mile Square City is also accessible from the New Jersey Turnpike and other nearby thoroughfares.
Existing tenants in the portfolio include Cork Wines & Spirits, Bright Horizons, W. Kodak Jewelers, PNC Bank, La Isla Restaurant, Hand and Stone, European Wax Center and 16 Handles.