Cushman & Wakefield‘s New Jersey retail team announced on Friday it saw robust leasing activity in the restaurant sector in New York and New Jersey in 2019.
Spearheaded by the firm’s David Townes, Alana Friedman and Neil Seth, the team inked 13 transactions totaling 36,926 square feet, including first-time operators and national brands.
“The dining sector remains one of the hottest retail categories, both in our region and nationwide,” Townes said. “As local and national brands seek to grow their businesses, the demand for second-generation restaurant space with existing kitchen infrastructure continues to be at its highest.”
Alomg the highlights includes the anticipated opening of Krispy Kreme in East Rutherford, slated for this month. Townes and Friedman represented the tenant in opening its first Bergen County location: a 3,200-square-foot lease at 91 Route 17 South. The pair also helped secure the first New Jersey location for &pizza in Jersey City, representing 30 Montgomery Partners LLC, the owner of 30 Montgomery St., in the 1,033-square-foot lease. Jamie Sackeim and Vicki Ezra of The Shopping Center Group represented the tenant.
Other recent New Jersey deals included:
- Bubbakoo Burritos, leased 1,700 square feet, 110 Market St., Saddle Brook;
- Dunkin Donuts, leased 1,800 square feet, 110 Market St., Saddle Brook;
- Pag’s, relocated and expanded to 6,300 square feet, 227 Franklin Ave., Nutley;
- YaYa Tea Café’s, leased 1,953 square feet, 250 Central Ave., Newark;
- HLS Juice Bar, leased 2,230 square feet, 483 South Livingston Ave., Livingston;
- Sterling Spice, leased 3,362 square feet, 99 Ridgedale Ave., Cedar Knolls.
- Dulce de Leche Bakery, leased 5,300 square feet, 55 West Palisade Ave., Englewood;
- Hidden Grace Foods Corp., 11,282 square feet, State Highway 33 & Mercerville Road, Mercerville.
In New York, Townes and Friedman brokered Shaking Crab’s lease in Nanuet and Wingstop’s lease in Middletown.
“Among Personal Services and Fitness, Food is expected to continue to be a coveted retailer category in 2020,” Friedman said. “Consumers are seeking both dining convenience and variety and we anticipate ongoing expansion, specifically in the quick service restaurant (QSR)/fast casual subcategory.”
