Mochimoly, a locally owned Asian treats concept, leased 1,100 square feet at 131 East Broad St. in Westfield for its third new store, in a deal arranged by JLL. — Courtesy: JLL
By Joshua Burd
A stretch of downtown Westfield is seeing a spike in retail leasing amid increased traffic from remote workers in the bedroom community, according to brokers with JLL.
The real estate services firm said this week that it has closed five leases totaling 11,153 square feet on a single block in the town, the largest of which is a 5,812-square-foot commitment at 167 East Broad St. Tokyo-based 2nd Street, an international consignment brand, is taking space for what will be the chain’s 22nd U.S. location since its expansion began in 2018.
JLL Managing Director David Townes and Vice President Alana Friedman represented the landlord in the transaction. Newmark’s Jake Siegel and Andrew Connolly represented 2nd Street, which is slated to open this fall.
Townes and Friedman also represented ownership in four other transactions, including Stretchlab’s 10-year, 2,091-square-foot deal at 161 East Broad St., according to a news release. The space will be among the latest in more than 200 stores across the U.S. for the operator, the nation’s fastest-growing assisted stretching concept, which also has hundreds of franchises around the globe.
“Retail is thriving here in suburban New Jersey,” Townes said. “We are thrilled to contribute to the community of Westfield by bringing these exciting new retailers to the downtown area and look forward to continuing the suburban renaissance with many more new tenants.”
Mochimoly, a locally owned Asian treats concept, leased 1,100 square feet at 131 East Broad St. for its third new store, which opened this past spring, JLL said. Tea drink franchise Gong Cha has taken 350 square feet at 129 East Broad St., while international fast casual juggernaut German Donner Kebob committed to 1,800 square feet at 125 East Broad St. for a new outlet expected to open soon.
Francisco Lugo of Christies International Real Estate of represented Stretchlab, while Zach Diamond of Katz NYC represented German Donor Kabob.
“With an established affluent population, educated workforce and connectivity that supports flexible commuting, Westfield is a highly desirable market for retailers seeking growth opportunities where shoppers live rather than work,” Freidman said, noting that it’s among several suburban New Jersey towns benefiting from the rise in hybrid work.
Developer James Ward, the owner of 161-167 East Broad St., added: “Before COVID, about one third of the downtown was vacant and that creates a very negative impression. JLL has been a great partner as the community embraces the type of smart growth that is contributing to a vibrant downtown area that bolsters the economic strength of the whole town.”
