Centuria stampede is underway as retailers rush to Fort Lee site.

The Cushman & Wakefield team tapped to lease the 120,000 s/f of retail space at the $1 billion Centuria development in Fort Lee is braced for a stampede of high-end retailers rushing to snap up space.

"It's lights, camera, action time," said Michael Stone, senior director of retail services, who along with C. Bradley Mendelson, is leading the assignment.

"I think the quality of our project is going to create more demand than we probably have room for." The projected delivery date for the retail space will be late in 2008, but the new 7,000 s/f, state-of-the-art leasing center will open on site April 16. Even before then, Stone said there has already been a high level of interest from retailers and restuarants eager to become part of the Gold Coast boom.

"At least two national restaurant chains, a very high-end health club, several national and international apparel retailers and a gourmet grocer have inquired about space," said Stone.

Situated on 16-acres, Centuria will feature more than 120,000 s/f of upscale, ground-floor retail space topped by a four-star hotel and a luxury condominium complex. "This mixed-use setup offers retail tenants the opportunity to be in an urban Downtown with ample parking and a built-in customer base, derived from the four-star hotel and 1,000 luxury residential units. The co-tenancy creates a form of synergy," said Stone.

Stone and Mendelson plan to target upscale, mixed apparel and service oriented retailers as well as restaurants. "We are targeting internationally recognized brands for an urban, mature demographic that demands the best in class retailers," said Stone.

They will not be announcing an anchor tenant because, according to Stone, the project itself will stand as the anchor, with 10-20,000 s/f being the average floor plate size.