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Hartz lands anchor for strip mall.

Hartz Mountain Industries has announced that National Wholesale Liquidators (NWL) has leased 60, 727 s/f at its Tonnelle Plaza location in North Bergen, NJ.

NWL will be the anchor for the strip center, which opened its doors on November 14. The North Bergen location will be NWL's second entry into Hudson County and the eighth location in New Jersey.

Meadowlands area towns such as North Bergen have enjoyed a resurgence that is fueled by "new urbanism"--a lifestyle trend that has resulted in new residential development around transportation infrastructure. Tonnelle Plaza has enjoyed its place in the community with long-time residents and is ideally located to serve new residents as well.

Beginning in early 2007, Hartz will embark on a major renovation project for the nearly 200,000 s/f strip center. Much like many of Hartz Mountain's other mixed-used developments, Tonnelle Plaza will evolve into a highly functional and productive retail destination that will support new and creative retail concepts.

"We are now entering a new generation of consumers and our retail locations need to reflect that," explains Emanuel Stern, president and COO of Hartz Mountain Industries. "The addition of National Wholesale Liquidators will be an important part of Tonnelle Plaza's make-up and is a significant step in the evolution of its retail component." The renovation project will include a new facade for the entire complex.

In addition, Hartz will be constructing decorative brick bases, which will double as planters. The parking area will be dressed with an upper faqade in order to give a more desirable appeal along with new signage that will be added throughout the plaza.

North Bergen Mayor Nicholas Sacco calls NWL another strong step forward for the local economy. "Tonnelle Avenue is quickly becoming a first rate retail destination as shoppers take advantage of our 3.5% sales tax, excellent location, new light rail station and significant roadway improvements that are being made by the state DOT. We welcome these new jobs and tax ratables."

Tonnelle Plaza is directly accessible to Routes 1 & 9 and conveniently located near major roadways such as the NJ Turnpike, Route 3 and the Lincoln and Holland Tunnels. For leasing information, please contact Hartz Mountain Industries, Leasing Department at 201-348-1200 for availabilities.

"The North Bergen retail market has been coming back to life as of recent because the demographics are excellent with strong expendable income and the opening of some major big box retail chains and especially the planned renovations to Tonnelle Plaza," says Jerry Welkis, President of Welco Realty, Inc. and exclusive leasing agent for Tonnelle Plaza.
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Publication:Real Estate Weekly
Date:Nov 29, 2006
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