Diversified Properties said it recently signed a lease renewal and an expansion for 2,966 square feet of retail space with Summit Lusso Nails in Summit.
Summit Lusso Nails joins an already impressive roster of tenants at the Promenade at Summit, such as ConnectOne Bank, the Shape of You, Dunkin Donuts, Kumon and the Little Gym. The tenant roster, coupled with the property’s exceptional residential opportunities, has earned the Promenade at Summit a reputation as one of the area’s most in-demand places to both shop and live.
Located at 545 Morris Ave., the 48,000-square-foot, three-story, mixed-use building was constructed by Diversified Properties in 2010. The building includes a now fully occupied 16,000-square-foot retail center with boutique spaces ranging from 1,230-1,604 square feet, as well as 22 spacious luxury apartments.
The property also offers on-site management with ample storage and underground parking, as well as prominent architecture, providing immense curb appeal to commercial tenants and residents.
In addition, the Promenade at Summit’s location offers quick access to some of the area’s major roadways, including Route 24 and Interstate 78, as well as the Garden State Parkway.
Summit Lusso Nails is a new business that recently purchased an existing thriving nail salon business previously occupying a 1,458-square-foot space at the Promenade at Summit. Recognizing the tremendous opportunities for growth at the location, Summit Lusso Nails decided to expand into an adjacent 1,508-square-foot unit. The lease expansion brings the building’s retail occupancy to 100%.
“Despite the headwinds facing the retail market, well-positioned assets like the Promenade at Summit continue to see high demand from all types of businesses,” Nicholas Minoia, founder and managing partner of Diversified Properties, stated. “We welcome Summit Lusso Nails to the property and are excited to watch their continued growth.”
