Transformation of Newark’s University Heights neighborhood continues as seven new retailers
Newark, NJ — Tucker Development’s vision for creating a vibrant and diverse shopping destination in Newark’s University Heights neighborhood continued to take shape, as the company announced the addition of seven retailers to the growing mix of tenants at Springfield Avenue Marketplace.
The mixed-use development, which is anchored by a highly successful ShopRite that opened Fall 2015, has energized University Heights and the surrounding area by delivering 115,000 s/f of new retail space, and is serving the area’s need for high-quality housing options with a 152-unit luxury apartment building known as 24 Jones.
Retailers joining the mix include:
• Plus-size clothier Ashley Stewart, which signed a 4,500 s/f lease, opens today
• Popeyes Lousiana Kitchen, which signed a 1,800 s/f lease, will open this Spring
• MetroPCS, which signed a 800 s/f lease, will open this Spring
• Huddle House, a popular breakfast eatery, signed a 2,400 s/f lease, and will open this Summer
• T-Mobile, which signed a 1,800 s/f lease, will open late Summer
• Roberto’s Pizza signed a 2,100 s/f lease, will open late this Summer
• Venus Beauty signed a 3,500 s/f lease, will open late this Summer
“With a scarcity of retail availabilities within new grocery-anchored developments, Springfield Avenue Marketplace presents a unique opportunity for clothiers, restaurateurs and other retailers,” said Jake Frantzman of Ripco Real Estate. “With grocery, fashion and dining already onsite, the development presents a perfect retail environment, so it’s no surprise the property is 85-percent leased after such a short period of time.”
Since opening in September 2015, Springfield Avenue Marketplace has played a major role in the ongoing transformation of University Heights, attracting new residents – largely professionals and graduate students – while bringing the area an array of shopping options that has increased the neighborhood’s desirability.
“When we identified this location for our development, we recognized that creating a vibrant, multi-faceted property could improve this part of Newark in a tangible way,” said Richard Tucker, CEO of Tucker Development, a national leader in the development of retail centers and mixed-use properties. “With Ashley Stewart opening its doors, several other shops coming within weeks, and our apartments at 24 Jones approaching full occupancy, it’s very gratifying to see our vision for Springfield Avenue Marketplace coming to fruition.”
University Heights provides residents with convenient access to Penn Station, NJ Transit and the New Jersey Turnpike. Further bolstering the location’s connectivity is the bus stop on Springfield Avenue and Jones St., which services lines 1, 99, 25, and GO25, providing seamless accessibility for shoppers and residents.
“One of the reasons we love this location is its convenient access to Rutgers University Hospital, Rutgers’ Newark campus, NJIT, Seton Hall and other educational institutions,” Tucker said. “It gives us great pride to see the mix of longtime Newark residents, students and newcomers to the city moving into 24 Jones and using the shopping center daily. University Heights’ proximity to major job centers makes the area very attractive to young professionals, and there’s little doubt that the area’s star is rising quickly.”
Tucker’s sentiments are echoed by the retailers that have opened their doors at Springfield Avenue Marketplace over the past 18 months. In addition to ShopRite, the development is home to Sarku Japan, Taco Bell and McDonald’s.
“Springfield Avenue Marketplace has brought something very special to this area of Newark, and we’re excited to be a part of it,” stated David Lee, senior marketing manager for Sarku Japan. “Since opening in December, we’ve drawn a steady stream of customers including local residents, students and hospital workers, and we’re proud to be a part of this transformative environment.