Lee & Associates handles pair of retail transactions in North Jersey

Lee & Associates New Jersey has closed a pair of retail transactions recently, it announced, including a restaurant in Denville and a gift shop in Ridgefield Park.

The real estate firm said in a news release that Josh Krantz, senior vice president, arranged the transactions — a 1,350-square-foot lease for Jersey Mike’s at 3130 Route 10 in Denville and a 1,900-square-foot lease for Blu Flowers and Gifts at 222 Main St. in Ridgefield Park.

“Retail tenants in the New Jersey market have fared better than Manhattan since the onset of the pandemic, and recent CDC announcements loosening mask guidance indoors will likely unleash pent-up demand for restaurants, bars and shopping,” Krantz said in a prepared statement. “This should support sales and growth for retail tenants, and in turn help retail owners fill occupancy, collect rent and shed concessions.”

Jersey Mike’s agreed to a long-term lease at the Denville Commons Shopping Center owned by Longpoint Realty. Jarrad Coletta of Coletta Commercial Realty represented the tenant in the transaction.

Blu Flowers and Gifts signed for $15 per square foot at the property owned by Lee Receivership Management LLC. Krantz also represented the landlord in the transaction.