Cushman & Wakefield Selected to Lease Retail Component of Montclair's Valley & Bloom
The 25,000-Square-Foot Space is Slated for a Spring 2015 Completion.
- Bergen-Passaic, NJ (1888PressRelease) July 11, 2014 - LCOR, a fully integrated real estate company specializing in property development, investment and management, has selected Cushman & Wakefield as the exclusive retail agent for 25,000 square-feet at Valley & Bloom. Valley & Bloom, the initial phase of the innovative Montclair Center Gateway Redevelopment Plan, offers retailers prime visibility on Bloomfield Avenue and access to a dynamic mixed-use environment.
The East Rutherford, N.J.-based Cushman & Wakefield team of Nancy Erickson, Director-New Jersey Retail, and Associate Director Jennifer Sofia will head the assignment, handling the lease-out of the initial 25,500 square feet of retail space. Move-ins for the space, which can accommodate up to six tenants, is expected to begin in the winter of 2015.
"We will be working very closely with LCOR to bring in a targeted tenant roster consisting of both local and national retailers to Valley & Bloom," said Erickson, whose team represents almost two dozen New Jersey retail properties totaling more than 200,000 square feet. "We are targeting retailers that fit in with Montclair's sense of community and support the already-thriving downtown."
"With 18-foot ceilings and large floor plates, the scale of this space is unique for the Montclair area, which typically doesn't see retail larger than 1,000 square feet," said James Driscoll, senior vice president of LCOR. "This offering provides local and national retailers, as well as restaurants, the rare opportunity to establish a presence in an existing market with brand new space convenient to parking and an active walkable community, and we are very confident that Nancy Erickson and her team, with their well-documented track record of success as both landlord and tenant representatives, will accomplish that goal."
With a prime location within Montclair's Downtown area, the retail component at Valley & Bloom will also be located directly across the street from The MC Hotel, being developed by The Pinnacle Companies. The eight-story, full-service boutique hotel will include a gourmet restaurant at its base and a sophisticated rooftop bar.
"We are already seeing interest in this one-of-a-kind retail location, and anticipate making some announcements very soon," said Erickson.
Located at 638 Bloomfield Avenue, Valley & Bloom is comprised of two buildings that will include a total of 258 apartments, 24,500 square feet of office space, 25,500 square feet of retail space and 571 parking spaces. LCOR and co-developer The Pinnacle Companies broke ground on Valley & Bloom in November 2013, with anticipated completion expected in spring of 2015.
Valley & Bloom is conveniently located within one mile of two New Jersey Transit commuter rail stations with direct service to Midtown Manhattan. With a population of approximately 39,000, Montclair is a sought-after community for a diverse group of residents attracted to the area's convenient transportation options, as well as its culture and charm. Just two-blocks from Valley & Bloom is The Montclair Art Museum, which just celebrated its 100th anniversary. Montclair is also home to Montclair State University, a diverse liberal arts university with nearly 20,000 students, which recently added a School of Business and School of Music.
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