High-Visibility Opportunities in Paramus and Englewood Offer Enviable Demographics
BERGEN COUNTY, N.J., June 1, 2018 – Cushman & Wakefield has been named leasing agent for two prime retail locations in Bergen County. David Townes, a retail leasing specialist based in the commercial real estate services firm’s East Rutherford, N.J., office, is heading the assignments to market 154 Route 4 East in Paramus and Palisades Shoppes in Englewood on behalf of Glenmore Management, the properties’ owner.
The Paramus opportunity features a 15,100-square-foot, free-standing retail asset with 95 feet of frontage on Route 4 – Bergen County’s premier retail corridor. The1.7-acre site offers ample parking with a rear entrance and exit onto Paramus Road and close proximity to the Garden State Parkway with access from routes 4 and 17, which boast daily traffic counts of more than 129,000 and 146,000 vehicles, respectively. The property sits adjacent to the popular Garden State Plaza mall.
“Paramus is known for its enviable demographics, with nearly 620,000 people within a five-mile radius,” Townes noted. “It is home to the highest retail sales per square foot in New Jersey, making it a magnet for tenants. This particular site is highly attractive, offering excellent visibility and accessibility.”
In Englewood, Townes is marketing two availabilities – of 5,000 and 8,300 square feet – that can be combined into one unit at Palisades Shoppes. Located at 55 West Palisades Ave., the property features attractive storefronts along downtown Englewood’s primary vehicular and pedestrian thoroughfare. Neighbors include ShopRite, Chick Fil A, Chipotle, McDonalds, Dunkin Donuts, New York & Company, CVS, Club Pilates, Verizon, Wells Fargo and Bergen PAC.
“Englewood is a vibrant downtown nestled in the heart of Bergen County,” Townes noted. “This charming and inclusive community is known for its quality retail and prime proximity to New York City, which is just minutes away. Palisades Shoppes is arguably the best piece of available retail in town.” Local retail tenants benefit from a population of 154,335 with an average household income of nearly $131,000 within a three-mile radius.
The two appointments mark Townes’ first partnership with Glenmore Management. Headquartered in Secaucus, the company is a boutique retail owner/operator with a diversified, 450,000-square-foot, regionally concentrated portfolio. “Glenmore has amassed some fine retail assets in Northern New Jersey’s most sought-after retail hubs,” Townes said. “This company is a hands-on owner that is excited to make deals, and I look forward to helping them work toward that end at 154 Route 4 East and Palisades Shoppes.”
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, advisory and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.