LAKEWOOD, NJ, DECEMBER 12, 2005 – The Lightstone Group, one of the largest private real estate owners in the country, has announced more than 7,500 square feet of lease transactions throughout its New Jersey retail portfolio during the third quarter.
“We are pleased with our strong leasing performance for the third quarter,” commented Jeffrey Dash, director of leasing for The Lightstone Group. “Our continued commitment to re-investing in our centers, dedication to tenant services and outstanding locations helps serve our tenants and guests alike.”
Recent renewals include a 1,300-square-foot lease in the Millburn Mall in Vauxhall, signed by Best Realty Group. The 67,000-square-foot open-air strip center is conveniently located at 2929-2933 Vauxhall Road, between the Valley Street and Millburn Avenue intersections in Union Township. In addition to retail, the center offers nearly 10,500 square feet of office space, and is home to such well-known establishments as Drug Fair, Union Center National Bank and Tabatchnik’s Smokehouse. The center, which serves the affluent communities of Millburn and Short Hills, enjoys a diverse mix of tenants and is slated for significant renovations to its exterior.
Browntown Shopping Center, a 92,000 square-foot center in Old Bridge, is also experiencing high tenant retention. Its most recent lease renewal was a five-year lease signed by ERA Designs for Living Real Estate to occupy a 3,000-square-foot office in the center. In addition to retail, Brownstown Shopping Center has approximately 11,000 square feet of office space. Just recently, the office complex received two new leases. Kumon Math and the Taxi Dispatch Company signed long-term leases on 1,300 and 700 square feet, respectively. The center is also scheduled for significant renovations with site improvements and upgrades to its façade. Current tenants within Browntown Shopping Center include Diva’s Beauty Supply, Drug Fair, Janet’s Dance Centre, Model Nails, NY Sports Club, and a newly constructed Wendy’s restaurant.
