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NJ shopping center plans re-opening.

Renovations of the 116,000 square-foot Allaire Plaza shopping center are nearing completion and the Re-grand Opening is scheduled for later this Fall. An affiliate of K. Hovnanian Investment Properties, Inc. acquired Allaire Plaza from Aetna Life Insurance Company in May of this year and is currently renovating the retail center.

"The improvements are moving ahead on schedule," announced Paul Schneier, Vice President of Operations for the Investment Properties Division. "Currently Allaire is approximately 78 percent leased and we expect to be substantially leased not long after renovations are completed," Schneier added.

Located at the intersection of Allaire Road and Route 35 in Wall Township, the Allaire Plaza includes tenants such as Pathmark Supermarket, Reynolds Department Store, Hit or Miss, Encore Books and Party City. The remaining space at Allaire plaza is ideal fortenants seeking 1,840-6,000 square-foot stores.

The renovations being performed by K. Hovnanian Investment Properties, Inc. include a new facade, canopy. roof repairs, signage and new landscaping as well as individual improvements for new tenant space.
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Title Annotation:Allaire Plaza shopping center at intersection of Allaire Road and Route 35 in Wall Township, New Jersey
Publication:Real Estate Weekly
Date:Sep 15, 1993
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