Five retailers sign leases for Jersey City’s RIVET

By Eric Strauss
Jersey City | Apr 2, 2019 at 1:23 pm

Jersey City’s RIVET luxury apartments will be augmented by five retailers that signed ground-floor leases recently, according to the development partners.

The Hampshire Cos., Claremont Cos. and Circle Squared, which have joined forces to develop the property, said the five leases total 9,500 square feet and bring the project’s retail component to full capacity.

The leases include:

  • Cuteicles nail salon and spa, 3,000 square feet;
  • Five Guys restaurant, 2,500 square feet;
  • RivetCare general practitioner, 2,000 square feet;
  • Carvel dessert retailer, 1,000 square feet;
  • University Place Pharmacy drugstore, 1,000 square feet.

“RIVET’s ground-level retail enhances the tenant experience by offering them access to everyday conveniences right outside their door,” Norman Feinstein, principal, vice chairman and fund manager – generational fund, said in a prepared statement. “As University Place continues to grow, these retailers will be an important backbone in the creation of a vibrant, walkable neighborhood designed around the needs of today’s residents and the surrounding community.”

RIVET, which includes 163 residential units, is part of the first phase of the University Place master plan for Jersey City’s West End. The residential component is currently 75% leased.

Eric Strauss | estrauss@roi-nj.com | acerimrat