The S.Hekemian Group has filled the retail space at North Market, a multibuilding, mixed-use complex at the site of the former Mercedes-Benz USA campus in Montvale. — Courtesy: The S.Hekemian Group
By Joshua Burd
The S.Hekemian Group has added three prominent retailers to the mixed-use development that has helped revitalize the former Mercedes-Benz USA campus in Montvale.
The developer said the national chains — Williams Sonoma, Pottery Barn and Fleming’s Steakhouse — are among 19 new tenants representing 134,000 square feet at what’s known as North Market. Williams Sonoma and Pottery Barn will occupy 5,500 and 12,000 square feet, respectively, while Fleming’s has committed to 8,118 square feet.
Completion of the deals means that all built retail space at the site is now 100 percent leased or committed to, with new stores to begin opening this spring and throughout the summer, in another milestone for the firm’s redevelopment of the former Mercedes headquarters and DePiero Farm properties.
The activity also nearly doubles the 20 existing stores in North Market, which also includes the Wegmans-anchored Shoppes at DePiero Farm.
“Our new retailers will now bring the dynamic of North Market to the next level, realizing our core vision from day one to create an energetic, exciting neighborhood lifestyle in one of the country’s leading suburbs,” said Peter Hekemian, senior managing director of The S.Hekemian Group. “This is especially true when you include Fleming’s, Williams Sonoma, and Pottery Barn — the best-in-class centerpieces we have long sought to complete the North Market experience. We couldn’t have done it without our partnership with the Borough of Montvale and their progressive approach to redevelopment.”
SHG noted that the new tenants will join the previously announced Valley Health System, which will open a 60,000-square-foot surgical center in the neighborhood. Additionally, the developer has leased 95 percent of the roughly 100,000-square-foot office building that it constructed on the site, while it has also rented some 95 percent of the more than 300 new luxury apartments at the property.
“We continue to appreciate the vision of The S.Hekemian Group in seeking out retailers and restaurants that match our own vision for Montvale as one of northern New Jersey’s most desirable communities,” Mayor Mike Ghassali said. “Our residents have consistently expressed their desire for premium retailers and upscale dining options in town, and we are so pleased to have been able to facilitate the arrival of these three new members to our business community.”