LAKEWOOD, NJ, APRIL 27, 2005 – Unlike the cool spring weather, The Lightstone Group, a diversified real estate company headquartered in Lakewood, New Jersey, announced that retail leasing in its Pennsylvania portfolio is hot, with recent transactions totaling over 100,000 square feet. The Lightstone Group is one of the largest owners of quality retail space in Pennsylvania, and across the country.
“We are off to a great start this spring with our tremendous leasing success throughout our Pennsylvania portfolio,” said Jeffrey Dash, director of leasing for The Lightstone Group’s Pennsylvania region. “We are delighted to welcome both our new tenants and are pleased to have renewed so many existing tenants during this period. Our continued extraordinary performance in the market is a testament to our outstanding leasing team, which works tirelessly to consistently exceed tenant expectations.”
Recent leasing highlights include:
Springfield, New Jersey-based Village Supermarkets, Inc., has renewed its 53,000-square-foot lease at Monroe Plaza, located in Stroudsburg, Pennsylvania. Village Supermarkets will continue to operate its Shop Rite Supermarket at this shopping center.
“We are happy to continue to be part of Monroe Shopping Plaza,” said William Sumas, executive vice president of Village Supermarkets. “Since joining The Plaza in 1980, our store has undergone two major renovations and a 9,100-square-foot expansion. We are willing to invest in this store because of the quality shopping experience and prime location provided by Monroe Shopping Plaza. We look forward to continued growth at this address.”
The 25th Street Plaza, located in Easton, Pennsylvania has recently experienced an overwhelming amount of leasing activity. The center has welcomed brand new tenants including Silver Thorne Furniture, a supplier of high-end billiard equipment and game tables, which will occupy a 3,900-square-foot space; Two Dollar Movies, a wholesaler which offers premier movie showings at discounted prices, leased 11,980 square feet of space; Cottage Crafters and Antique Mall will occupy a 11,766-square-foot space to be used for retail sale of crafts, antiques and baked goods.
Established tenants who have renewed their leases at The 25th Street Plaza include H&R Block, Eastern Tax Service will continue to occupy its 3,100-square-foot space; NY Bagel & Deli re-leased its 1,500-square-foot space, Easton Video re-signed for 3,395 square feet and NY Nails renewed its lease for 900 square feet.
In other Pennsylvania leasing renewals, Price Chopper Supermarket, a low price high-quality operator, recently renewed its lease for a 26,000 square feet at The Lightstone Group’s Dunmore Plaza, located in Dunmore, Pennsylvania.
