JLL Retail closed five leases totaling 11,153 square feet on a single block in downtown Westfield, a community that is seeing increased demand from retailers following remote work patterns.
In the largest transaction, international consignment brand 2nd Street has leased a 5,812-square-foot retail space at 167 E. Broad St. in the Great American Main Street award-winning downtown. The Tokyo-based international brand is expected to open what will be the chain’s 22nd U.S. location since its expansion got underway in 2018 by the fall of this year.
At 161 E. Broad St., national health and wellness concept Stretchlab signed a 10-year lease for its recently opened 2,091-square-foot facility. StretchLab is the nation’s fastest-growing assisted stretching franchise, with 200 stores across the U.S. and hundreds more franchises around the globe.
Mochimoly, a locally owned Asian treats concept, leased 1,100 square feet at 131 E. Broad St. for its third new store, which opened this past spring. Tea drink franchise Gong Cha leased 350 square feet at 129 E. Broad St., and international fast casual German Donner Kebob has leased 1,800 square feet at 125 E. Broad St. for a new outlet expected to open soon.
A JLL Retail leasing team led by Managing Director David Townes and Vice President Alana Friedman represented the landlords in all of the transactions. 2nd Street was represented by Newmark’s Jake Siegel and Andrew Connolly; Stretchlab was represented by Francisco Lugo, Christie’s International Real Estate; German Donor Kabob was represented by Zach Diamond of Katz NYC.
“Retail is thriving here in suburban New Jersey,” Townes said. “We are thrilled to contribute to the community of Westfield by bringing these exciting new retailers to the downtown area and look forward to continuing the suburban renaissance with many more new tenants.”
According to Freidman, Westfield is among several suburban New Jersey towns benefiting from the rise in hybrid work: “With an established affluent population, educated workforce and connectivity that supports flexible commuting, Westfield is a highly desirable market for retailers seeking growth opportunities where shoppers live rather than work.”
Developer James Ward, owner of 161-167 E Broad St., added: “Before COVID, about one-third of the downtown was vacant, and that creates a very negative impression. JLL has been a great partner as the community embraces the type of smart growth that is contributing to a vibrant downtown area that bolsters the economic strength of the whole town.”