A new ShopRite anchors the Springfield Avenue Marketplace in Newark. — Courtesy: Tucker Development
By Joshua Burd
The retail portion of Tucker Development’s major mixed-use project in Newark is now 85 percent leased after recent commitments from seven new retailers, the firm said Thursday.
The deals total nearly 17,000 square feet and are the latest addition to Springfield Avenue Marketplace, a project that delivered 115,000 square feet of new retail space to the city’s University Heights neighborhood in September 2015. They include:
- Plus-size clothier Ashley Stewart (4,500 square feet)
- Popeyes Lousiana Kitchen (1,800 square feet)
- MetroPCS (800 square feet)
- Huddle House, a popular breakfast eatery (2,400 square feet)
- T-Mobile (1,800 square feet)
- Roberto’s Pizza (2,100 square feet)
- Venus Beauty (3,500 square feet)
Ashley Stewart has opened its doors, while Popeyes and MetroPCS will open this spring, Tucker said in a news release. The other four are slated to open this summer at the property, which is anchored by a new ShopRite.
“With a scarcity of retail availabilities within new grocery-anchored developments, Springfield Avenue Marketplace presents a unique opportunity for clothiers, restaurateurs and other retailers,” said Jake Frantzman of Ripco Real Estate. “With grocery, fashion and dining already onsite, the development presents a perfect retail environment, so it’s no surprise the property is 85-percent leased after such a short period of time.”
Springfield Avenue Marketplace also includes 24 Jones, a 152-unit apartment community that has attracted renters from University Hospital and the surrounding higher education institutions in the city.
“When we identified this location for our development, we recognized that creating a vibrant, multi-faceted property could improve this part of Newark in a tangible way,” said Richard Tucker, CEO of Tucker Development, a national leader in the development of retail centers and mixed-use properties. “With Ashley Stewart opening its doors, several other shops coming within weeks, and our apartments at 24 Jones approaching full occupancy, it’s very gratifying to see our vision for Springfield Avenue Marketplace coming to fruition.”
Other retailers that have opened at the property include Sarku Japan, Taco Bell and McDonald’s. David Lee, senior marketing manager for Sarku, said the restaurant opened in December and has since “drawn a steady stream of customers including local residents, students and hospital workers, and we’re proud to be a part of this transformative environment.”