The Mainardi Management Co. announces recent transactions in New Jersey
NEW JERSEY — The Mainardi Management Co. announced several lease signings at properties managed by it and the closing of two loans by affiliates of the company. At the Allaire Plaza in Wall Twp., TJX recently signed a 10-year lease for a 22,725 s/f store. The store will be operated as a TJ Maxx. ULTA Beauty and Cosmetics likewise signed a 10-year lease, this store being 11,240 s/f in size while A.C. Moore leased 14,710 s/f, also for 10 years. The three stores were created out of space that was previously occupied by Lowe’s Express. The Allaire Plaza is a 114,532 s/f. shopping center. The center is anchored by a Whole Foods Supermarket. To facilitate the construction of the new stores at the shopping center, the company closed a $16.2 million loan with Kearny Bank of Fairfield, New Jersey. This was the fourth loan that the company had closed with Kearny.