An e-commerce logistics firm has leased more than 570,000 square feet at a Mount Olive industrial building, where brokers continue to market nearly 850,000 square feet.
Off-price brands, dining and personal services have fueled retail leasing since Labor Day, Levin Management Corp. said, touting nearly 200,000 square feet of activity over the past 90 days.
Two new big-box retailers have joined the well-known IKEA-anchored retail complex along the New Jersey Turnpike, occupying a combined 248,000 square feet at the Elizabeth property.
A new Burlington store is set to backfill a former Toys R Us and Babies R Us store in Somerset County, where the retailer has signed a lease for 46,000 square feet.
A longtime real estate executive for Toys R Us and other retailers has joined R.J. Brunelli & Co. LLC to fill a newly created tenant representation position.
The owners of the defunct Toys R Us chain have sold the retailer’s former 621,000-square-foot corporate headquarters in Wayne, brokers with CBRE announced.
Four New Jersey stores will be among more than 80 shuttered Toys R Us and Babies R Us locations that will be auctioned in late September as part of the retailer’s ongoing bankruptcy proceedings.
Nearly 30 remaining Toys R Us stores in New Jersey are among more than 700 that will likely close or be sold nationwide, as the chain succumbs to a decline fueled by competition from e-commerce and its crushing debt burden.