428 Springfield Ave. in Summit — Courtesy: RKF
By Joshua Burd
A high-end furniture store and a California-based home décor chain are among the newest retailers in downtown Summit, following a series of leases brokered by RKF.
The operators, West Elm and Serena & Lilly, are among the tenants in four new leases announced recently by the retail brokerage and consulting firm. RKF also announced transactions in the city with Drybar, a blow-dry chain, and Smoothie King.
The leases total more than 23,000 square feet. RKF Senior Managing Director Glenn Beyer and Senior Associate Robert Mackowski represented the landlord in each deal.
“These recent transactions affirm the vibrancy of retail opportunities in the state overall and especially in Summit,” Beyer said in a prepared statement. “Retail alone contributes $76.6 billion to the New Jersey economy, and we continue to see growing interest from urban brands that cater to young professionals and families.”
West Elm, a Brooklyn-based furniture and home goods retailer, leased 15,350 square feet at 343 Springfield Ave. from MRY Associates LLC, RKF said in a news release. Rhino Realty’s Bobby J. Traynham represented the tenant, which is also a unit of Williams-Sonoma Inc.
RKF said the new store, which sits between Beechwood Road and Summit Avenue, opened last fall and is a short walk from the city’s NJ Transit train station.
At 428 Springfield Ave., Serena & Lily leased 4,940 square feet for what is its first location in New Jersey, RKF said. Thomas Ryan of NAI James E. Hanson and John Auber of the Auber Group represented the home décor retailer, which is slated to open this fall.
RKF also represented the landlord, 350 Springfield Owner LLC, in its lease with Drybar at 29 Summit Ave. The Greenberg Group represented the tenant in the 1,866-square-foot transaction, giving way to a June 2017 opening.
Smoothie King, a health-conscious smoothie franchise, took 945 square feet at 466 Springfield Ave. and opened the location this past spring, the news release said. Augie Caruso of Jeffery Realty represented the tenant.
RKF said it has arranged more than 36,000 square feet of retail leases in Summit in the past three years.
