Edgewater’s new Main Street runs to the Hudson River

By Douglas E. Hall

Edgewater Harbor, a waterfront community nestled just east beyond this town’s new Borough Hall is shaping up as solid addition to the development  along the borough’s three and a half mile Hudson River  shoreline  that has been underway for several years beyond the past decade.

Although much has yet to be built in Edgewater Harbor, a ribbon cutting for the new community is set for Thursday, April 4 at 11:30 p.m.

HomeGoods, TJX Companies’ off-price home fashions concept, has leased 24,000 square feet to anchor the 100,000-square-foot retail component of Edgewater Harbor, a mixed-use redevelopment between  River Road and the Hudson River.  Levin Management serves as exclusive retail leasing agent for the property.  Levin’s leasing representative Jake Frantzman negotiated the long-term lease. Jerry Welkis of Welco Realty represented HomeGoods in the transaction.

“And while the heart of the development is HomeGoods, indisputably a big box store, many of the rest of the leases will go to smaller shops to further promote the downtown feel of the development,” Frantzman said.  “We’re trying to bring in restaurants, we’re trying to bring in any smaller boutiques or any retail that would really fit the market well,” he said.

A project of National RE/sources, Edgewater Harbor sits on the 21-acre former Unilever facility, providing Hudson River views and a coveted Gold Coast address.  At build-out, Edgewater Harbor will include 480 high-end loft and apartment residences and a 1,900-foot river walk along the Hudson. The property’s first two residential buildings feature ground-level retail space along the project’s Main Street; HomeGoods was the first tenant committed to that portion of the project.

Other tenants who have signed up include Great Clips, Floris Nails & Spa, European Wax Center, Five Guys Burgers and Fries, and Haven Riverfront Restaurant & Bar.  Retailers already open at Edgewater Harbor include CVS Pharmacy, Moe’s Southwest Grill, AT&T, Beach Bum Tanning, Epique Massage and Edgewater Dry Cleaners.

“Redevelopment efforts spanning from Weehawken to Bayonne have really kicked into high gear, making the Gold Coast a magnet for residents as well as retailers,” said Frantzman. “Strong demographics, along with excellent visibility and access, make Edgewater Harbor the perfect location for HomeGoods as it continues expanding throughout the New Jerseymarketplace.”

Based in Framingham, Mass., HomeGoods was introduced in 1992 and now operates about 400 stores throughout the United States. The retailer offers home fashions at 20 percent to 60 percent less than department and specialty store prices. Its broad and fresh array of merchandise includes giftware, home basics, furniture and accent furniture, lighting, rugs, bedding, decorative accessories, children’s furniture, seasonal merchandise and wall décor, and items for the kitchen and dining room, among other fashions for the home.

Edgewater Harbor’s retail component serves a population of more than two million people within a five-mile radius. Some 896,000 households within that same radius boast an average income exceeding $107,000. The property’s location – equidistant from the George Washington Bridge and Lincoln Tunnel – makes it easily accessible to shoppers from both New Jersey and Manhattan.  With today’s consumers more value conscious than ever before, off-price companies have carved a unique niche in the retail industry, allowing shoppers to affordably update their homes and wardrobes without sacrificing quality or style. “Edgewater Harbor, with its prime location just south of the intersection of River and Gorge roads, continues to attract high-quality tenants,” said Michael Cohen, vice-president of leasing. “We are excited to bring the HomeGoods concept to area shoppers, and are confident the new store will be a welcome addition to the local retail community.”

Having celebrated its 60th year in 2012, Levin Management is one of the nation’s leading retail real estate services firms, with a strong focus in the northeastern United States and an owner’s approach to the business. Today, the North Plainfield, N.J., company offers a full range of services for a diverse 90-property, 12.5 million-square-foot portfolio. These assets include neighborhood, community, lifestyle and power centers, as well as enclosed malls, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Virginia, and North Carolina. Levin specializes in repositioning, retenanting and renovating retail properties – areas that have become particularly vital for today’s institutional, fiduciary and individual property owners.

Headquartered in North Plainfield, N.J., Levin Management offers a full range of services for its clients, including leasing, property management, accounting, construction management, and marketing. The company’s management and leasing portfolio includes more than 90 diverse retail properties totaling more than 12.5 million square feet in New Jersey, New York, Pennsylvania, Virginia, North Carolina and Florida. Properties range from neighborhood, community, lifestyle and power centers, to enclosed malls, downtown stores and mixed-use projects.

Levin’s ownership approach to the business has earned it a number of distinguished awards. The company was named “Firm of the Year” by the Institute of Real Estate Management (IREM), New Jersey Chapter No. 1; one of America’s five fastest-growing real estate managers by Chain Store Age; Top Retail Company by the Mid Atlantic Real Estate Journal; and one of the nation’s Top 10 Redevelopers by Chain Store Age for the second year in a row. In January 2011, Commercial Property Executive magazine ranked Levin 30th among Top US Real Estate Companies. In August 2011, the publication again honored Levin as one of the industry’s Top Property Managers.

National Resources, the developer of Edgewater Harbor, built a new 25,000 square foot Borough Hall and Police Headquarters for $3.7 million as part of the negotiations to construct the new development.

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