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09/30/2020

Three new tenants join Burlington retail center, leasing a combined 57,000 sq. ft.

Real Estate NJ - Joshua Burd
Three new tenants join Burlington retail center, leasing a combined 57,000 sq. ft.

The owner of a Burlington shopping center is touting the addition of three new national tenants, following a recent renovation of the nearly 400,000-square-foot property.

The landlord, National Realty & Development Corp., said Ross Dress for Less and Planet Fitness are preparing to open at Liberty Square Center on Route 541. The former, a discount retailer, is scheduled to open in October and will occupy 22,090 square feet, while the fitness chain has signed for 25,000 square feet and is set to open in the first quarter of 2021.

They follow the recent opening of an 11,600-square-foot Five Below store at the complex, joining anchor tenants Walmart Supercenter and Marshall’s/Home Goods. The 380,383-square foot center is also home to businesses such as H&R Block, AutoZone and America’s Best Contacts and Eyeglasses.

NRDC President John Orrico represented the firm in the Ross lease, while Vice President of Retail Leasing Nick Hrvatin represented the company in the Five Below and Planet Fitness agreements, according to a news release. Rick Schuch of CBRE represented Five Below, John Krause of CBRE represented Ross Dress for Less and Joseph Dougherty of Metro Commercial represented Planet Fitness.

“We are excited to add these three nationally recognized, highly successful brands to Liberty Square Center,” Hrvatin said. “Despite the significant challenges brought on by the current pandemic, we have been able to complete our renovation of this property and now have a great mix of retailers and service businesses. The brands located in Liberty Square Center are some of the most prominent names in retail and will allow the shopping center to thrive well into the future.”

NRDC noted that, in order to ensure the ongoing operations of its tenants, the firm has worked to customize rent plans, provided guidance on where to find proper funding resources and advocate for outdoor dining during the pandemic. It has also implemented designated curbside pickup so tenants and their customers can stay connected, adding that the retail services remain accessible in a safe environment through limited occupancy.

The landlord added that Liberty Square Center sits on the corridor that connects Burlington to Mount Holly and intersects with other major New Jersey highways, including Interstate 295, Route 130 and the New Jersey Turnpike.

https://re-nj.com/three-new-tenants-join-burlington-retail-center-leasing-a-combined-57000-sq-ft/

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