Paramus Crossroads on Route 17 in Paramus — Courtesy: Advance Realty Investors
By Joshua Burd
Advance Realty Investors has added four tenants at a newly developed retail center in Paramus, where it has also tapped Newmark as its leasing agent.
The new transactions at Paramus Crossroads, a 108,400-square-foot property on Route 17 South, include a 4,044-square-foot commitment by TREK Bikes, a national manufacturer and supplier of bicycles and cycling equipment, according to Advance. The firm has also inked a 3,169-square-foot lease with Trinity Rehab, a regional physical therapy group that is marking its 20th location in New Jersey.
Meantime, the developer has added two eateries in Urban Bricks Pizza and Tacoria Mexican Street Kitchen. The tenants will occupy 2,031 and 1,821 square feet, respectively.
“Despite the challenges presented by the COVID-19 pandemic, we are extremely pleased to welcome these four exciting retailers to Paramus Crossroads, all of which serve as a testament to the market’s resiliency and the top-tier quality of the space and opportunity at the property,” said Peter J. Cocoziello, Advance Realty Investors’ founder and CEO. “With the help of our experienced team at Newmark, we look forward to bringing aboard additional businesses that will add to what is already a one-of-a-kind shopping experience in New Jersey’s most dynamic retail center.”
The Newmark team of Dean Tselepis and Jeff Kolodkin, both managing directors, are now marketing 19,500 feet of anchor retail space and 5,700 square feet in the development’s northernmost building, according to a news release. Some 7,000 square feet of second-floor office space is also available.
The center, which sits just north of the Garden State Parkway, is part of an expanded retail property that also includes a PGA Tour Superstore and P.C. Richard & Son. Advance delivered the new space early last year after demolishing an aging office building, seizing an opportunity in one of the country’s top retail markets.
Trinity Rehab and Urban Bricks Pizza opened at the property in August, the developer said. TREK Bikes debuted its new flagship store in September, while Tacoria Mexican Street Kitchen expects to open by year-end
They join Jersey Mike’s Subs and Mamoun’s Falafel, which opened at Paramus Crossroads in late 2019.
“Located in the heart of one of the country’s most dynamic and highly-trafficked shopping destinations, Paramus Crossroads is uniquely positioned to attract shoppers from across Bergen County and other areas of New Jersey,” Tselepis said. “By combining its incredible location and visibility, it continues to establish itself as one of the most well-planned and successful retail developments in the region.”