Totowa Square at 465 Route 46 in Totowa — Courtesy: Katz & Associates
By Joshua Burd
A shopping center along Route 46 in Totowa is nearly full after four recent leases totaling nearly 140,000 square feet, brokers with Katz & Associates announced.
The deals at Totowa Square, which spans 258,000 square feet, include a 50,000-square-foot commitment by Marshalls, according to a news release. Additionally, Total Wine and HomeSense leased 32,500 and 30,000 square feet, respectively, at the property at 465 Route 46.
All three stores have replaced big boxes formerly occupied by Babies “R” Us, Bob’s Stores, Toys “R” Us and Office Depot, the news release said. Marshalls and Total Wine are now open, while HomeSense is slated to open in October at a property that is also home to Hobby Lobby.
Katz & Associates’ Brian Katz and Amy Staats represented ownership in the deals, noting that the complex is now 97 percent leased. The team also brokered a 25,000-square-foot lease with Aldi, which opened in the third quarter of 2020.
“It’s exciting to help revamp Totowa Square with Aldi, HomeSense, Marshalls and Total Wine — high-quality stores that will revitalize the center in this top-tier suburban trade area,” said Katz, the brokerage firm’s CEO, noting that the team is still marketing 9,000 square feet.
Totowa Square, which sits just south of Interstate 80, was 57 percent leased before the four transactions. The activity comes as part of a repositioning effort that also includes a new façade, capitalizing on the center’s highway access, visibility and abundant parking.