Help clean the contamination on Soldier Hill Road

Monday, May 12 2008, 03:35 AM EDT

Local
Local News Community Calendar Paramus Profiles Videos News Photos Media Center Book Reviews Local Links Cancer Corner

Global
Life's Landscapes Health Highlights Financial Update Science and You Arts and Leisure In Fashion Decor Score Cooking Corner Automobile Reviews Movie Review DVD Select Video Game Reviews Digital Goddess Editorial Cartoon Comic of the Week Pro Golf Tips Video

Interactive
Discussion Forum Letters to the Editor

Sponsors

User Functions
Username: Password: Don't have an account yet? Sign up as a New User Lost your password?

Older Stories

Goldstein Group reports retail vacancy rate Rte 4 in Paramus

By Mel Fabrikant Thursday, February 28 2008, 09:10 PM EST Views: 343

The Goldstein Group, New Jersey's leading retail real estate brokerage firm, recently completed its Route 4 retail vacancy report, which shows a 6.79 percent vacancy rate throughout the Route 4 corridor in Paramus, New Jersey an increase from last year's rate of 3.99 percent.

"The vacancy rate increased due to the closing of the Loew's Movie Theater which relocated to the Garden State Plaza," stated Chuck Lanyard, President of The Goldstein Group. "Prime store locations, the proximity to Manhattan and its location at the crossroads of some of New Jersey's most traveled highways, make Paramus the ultimate destination for national and local retailers, and consumers alike. Despite the vacancy rate increase of approximately 2.8%, the corridor remains one of the most sought after trades areas in the northeast."

"Paramus, with the highest retail sales in any other zip code in the United States along with a population of over 600,000 people in five miles continues to be one of the most desirable retail markets in the country," added Lanyard. "That figure is astounding considering the Paramus Blue Laws restrict stores from opening on Sundays"

The survey analyzed over 90 properties along the highway corridor from Hackensack Avenue to the Route 208 intersection in Paramus, which encompasses over 2.2 million square feet of retail space. The two malls in the corridor, the Bergen Mall and The Shops at Riverside Square, were excluded.

According to The Goldstein Group's analysis, the Route 4 corridor has over 154,000 square feet of available retail space. Vacancies include the movie theater, over 25,000 at the Shoppes at IV; over 20,000 square feet at the former Huffman Koos property; and the former Bassett Furniture store.

In 2007, over 197,000 square feet of retail space was committed to by retailers such as Lowe's, Road Runner, Van Heusen, Jeep Automobiles, Weight Watchers, 5 Guys Burgers, and Montage Floors.

Currently, 164,000 square feet of new construction is under development along Route 4. Adding to the desirability of the area is the redevelopment of one of the oldest malls in the state, the Bergen Mall by Vornado Corporation as well as the adjoining former Loew's theater complex, which will soon have a Lowe's home center and a 70,000 square foot new retail building with an undisclosed retail tenant. This will result in tremendous new opportunities for retailers and restaurateurs. Target and Whole Foods have committed to the new development taking place in the heart of the Route 4 corridor.

The Shoppes at Riverside Square which has been transformed into an upscale mall for specialty shops and numerous high end restaurants completed its huge expansion in 2007. New upscale retailers such as Tiffany's, Coach, Benetton and top quality restaurants such as Maggiano's, Rosa Mexicano and P.F. Changs opened.

About The Goldstein Group

The Goldstein Group is New Jersey's leading full service retail real estate brokerage firm. The Company provides a wide array of services including landlord and tenant representation focused on leasing, sales, development, property management and financial services. The Goldstein Group currently represents over eight million square feet of retail properties and over 50 national and regional retailers. Founded in 1986, the firm is headquartered in Glen Rock, New Jersey. Through the Company's partnership with the Retail Brokers Network, it provides extended market coverage throughout the United States. For more information, contact Chuck Lanyard, President of The Goldstein Group at 201-703-9700, or visit the Company's website at www.thegoldsteingroup.com. For more information on the Retail Brokers Network, visit www.retailbrokersnetwork.com.

What's Related
More by Mel Fabrikant More from Local News

Story Options
Mail Story to a Friend Printable Story Format

Goldstein Group reports retail vacancy rate Rte 4 in Paramus | 0 comments | Create New Account

The following comments are owned by whomever posted them. This site is not responsible for what they say.

Sponsor Ad

Text Sponsor Ads

Trinity Presbyterian Church
Join the purpose driven church exercising faith, hope, and love because nothing else matters...
www.TrinityFamily.org

Spivak Lighting
Lamp Repairs, Chandeliers, Track Lighting, Outdoor Lamps, Recess Lighting, Paddle Fans, Consultation
www.spivaklighting.com

StoneMicro Web Technologies
Dynamic Website Development, Content Management System, Blogs, Web design, Web hosting services
www.StoneMicro.com

Sponsor ParamusPost

Upcoming Events
Tuesday 13-May Mayor & Council meeting Friday 16-May Book Discussion at the Library Saturday 17-May VFW POST 6699 trip to Vet's home Roger McGuinn Monday 19-May Library Travel Film Visits Barcelona Opera Concert at Library Tuesday 27-May Mayor & Council meeting