Vermella Union at 2 Vermella Way in Union — Courtesy: Russo Development
By Joshua Burd
CVS Pharmacy has opened its doors at Russo Development’s new mixed-use property in Union, joining several other retailers serving hundreds of new apartments and Kean University.
The developer this week announced the store opening at what it calls The Shoppes at Vermella Union, which is now 80 percent leased to users such as Chipotle, Panera Bread, Habit Burger, &Pizza and Starbucks. The operators make up the retail component at the sprawling multifamily project, where renters have leased 60 percent of the project’s first 415 units.
“We want the Vermella brand to be synonymous with effortless living, modeled more like a luxury resort with every need and convenience at or near our residents’ fingertips,” said Adam Pasternack, president of Russo Property Management. “CVS Pharmacy joins a great combination of retailers and restaurants that our residents can quickly access by foot on our 42-acre urban oasis.”
Plans ultimately call for 1,250 units, as Russo looks to capitalize on a location near the Union train station and several nearby highways. The property also includes The Union Club, an 86,000-square-foot amenity center, and nearly 10,000 square feet of outdoor spaces.
“In a time when people may still be leery of going out as much, we’ve given them a way to work from home, have fun, grab a snack or other essentials and interact with their neighbors —virtually and in person — without straying too far from home ” Pasternack said. “We’re also keeping our virtual leasing program available for those who have more comfort leasing remotely at this time.”
Ripco Real Estate represented ownership in the retail leases at Vermella Union.