Category: All News

Press Release for Stop & Shop in Ringwood, NJ

Azarian Addresses Future of Fieldstone Park Shopping Center Amid Stop & Shop’s Announcement of Closing

The Azarian Group, LLC, managers of the Fieldstone Park Shopping Center, addresses the recent announcement made by Stop & Shop that it will be closing 30 of its stores, including the location on 130 Skyline Drive in Ringwood, NJ.

“We understand the community’s concern over the loss of our longtime grocery tenant,” said John M. Azarian, CEO of The Azarian Group, LLC. “While the decision to close was made solely by the grocery chain at the national level, we are viewing this as an opportunity for positive change in the community. We are now presented with the chance to introduce a different store to the center, one that would operate as brand-new and would allow for further pursuit of updated renovations to the center as a whole.”

The introduction of a new anchor tenant will spearhead the center’s revitalization. A fresh retail concept will not only attract more foot traffic, but will also draw complementary businesses to the center and provide more diverse shopping and service options. Furthermore, change in regards to renovation is already underway at the property. It has been confirmed that Dollar General has committed to do a renovation of the store which will start in September 2024.

The Azarian Group is actively exploring a range of options to fill the space after Stop & Shop officially vacates. Efforts are being made immediately to fill the space as soon as possible with a use that will benefit the town. Meanwhile, Azarian’s Property Management division is putting in additional immediate efforts to beautify the property, which include pothole repairs, landscaping, and miscellaneous physical updates throughout the center. Updates that are in process right now include a septic system replacement and extensive roof repairs.

The Azarian Group is committed to engaging with the community and borough officials in a positive manner throughout the continued revitalization process. The Azarian Group appreciates the community’s patience during this transformative time and looks forward to unveiling a brighter, long-term future for Fieldstone Park Shopping Center and for the community.

 

Walgreens Shopping Center Reaches 100% Occupancy after Juice Bar Signs Lease

Azarian Realty Co. has announced a new lease that brings the Walgreens Shopping Center, located in Fairfield, New Jersey, to 100% occupancy.

A smoothie and juice bar, Mr. Juice, has leased the final 1,500 SF space at the Walgreens Shopping Center. With the addition of Mr. Juice, the dominant pharmacy-anchored property offers a diverse array of conveniences, including sit down and quick-service restaurants, offices, and service retailers.

Kevin Pelio of Azarian Realty Co. represented both the Landlord and the Tenant in this transaction.

Walgreens Shopping Center is a 40,000 SF shopping center centrally located on Route 46 West in Fairfield, NJ.

Azarian Realty Co. is the exclusive leasing agent for Walgreens Shopping Center.

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Related Press:

Smoothie, Juice Bar Takes Final Space at Fairfield Shopping Center – Real Estate NJ 07/13/2023

 

Azarian Realty Co. Details Leasing Activity in Middlesex County, New Jersey

Azarian Realty Co. announces a recent deal at its Woodbridge, NJ property, Plaza K Shopping Center, along with recent grand openings at its North Brunswick, NJ Lifestyle Center, The Shoppes at North Brunswick.

Crème de la Crème Loft has leased the 2,615 SF first floor space in Plaza K Shopping Center, located in Woodbridge, NJ. The locally based event company will utilize the space to host private celebrations. Kevin Pelio of Azarian Realty Co. represented the Landlord and Koa Thomas-Fredericks of EXP Realty represented the Tenant in this transaction.

With the addition of Crème de la Crème Loft, the property offers a diverse array of conveniences including specialty retail, quick service restaurants, and services. Two tenants are expected to open soon: Fast Bagel and Dr. Anuj Kapadia, DMD.

Plaza K Shopping Center is a 30,000 SF shopping center centrally-located on Route 1 South in Woodbridge. Only one leasing opportunity remains available: a 5,545 SF second floor space ideal for office and service users.

A few more miles down Route 1 South is The Shoppes at North Brunswick, also exclusively leased by Azarian Realty Co. Two new tenants recently opened at The Shoppes at North Brunswick – Hummus Republic and Workshoppes Co-Working. Three more tenants are set to open in the following weeks: Inspire Physical Therapy on June 26th, Paris Baguette on June 30th, and Girl Scouts Dream Lab in early August.

The Shoppes at North Brunswick is a 147,000 SF Premium Lifestyle Center located on Route 1 & 130 in North Brunswick, New Jersey. It is home to over 40 national brands including fast casual and sit-down restaurants, retailers, services, fitness centers, and 2nd floor office space. One more, fully built out, 2nd floor office space remains available, in addition to select ground-level retail.

Azarian Realty Co. is the exclusive leasing agent for both The Shoppes at North Brunswick and Plaza K Shopping Center. Contact Kevin Pelio, Executive Vice President, to inquire about current leasing opportunities.

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Related Press:

Azarian Realty Co Details Leasing Activity in Middlesex County – ROI-NJ, 06/21/2023 

Event Business Leases 2,600 SF at Woodbridge Strip Center, Azarian Says – Real Estate NJ 06/21/2023

 

The Azarian Group, L.L.C. promotes Kevin Pelio to Executive Vice President

The Azarian Group, L.L.C., a leading New Jersey-based, commercial real estate investment, leasing, and management firm, has promoted Kevin Pelio to Executive Vice President.

Pelio, who joined the firm at the end of 2021, has been a key contributor in leading the leasing and property management departments through merchandising mix and leasing strategy, budget forecasting, capital expenditure allocations, day-to-day property management oversight, and tenant fit-out construction management for the company’s third-party portfolio of commercial properties.  Since joining the firm, Pelio has directly overseen new lease negotiations of 160,000 square feet of retail and office space, across a broad spectrum of local, regional, and national retailers, bringing the portfolio’s occupancy to 92%.  In the expanded role, Pelio will continue to focus on the core business functions as well as the implementation of new business development and assignments, interdepartmental staffing and coordination, and vendor administration.

“Kevin has worked hard to launch us from a portfolio pandemic low of 76% occupancy to a current high of 92%, which has included 42 new leases during his short tenure. His vision and knowledge of new and innovative concepts have propelled us forward during this challenging time,” states John M. Azarian, CEO, of The Azarian Group, L.L.C.

Founded in 1970, The Azarian Group, L.L.C. is a fully integrated property ownership and management company comprised of a 20-property portfolio, approximately 350 tenants, in a portfolio of 1,300,000 square feet of commercial real estate throughout New Jersey and New York.

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Related Press:

Azarian Group Promotes Kevin Pelio to Executive Vice President – ROI-NJ, 06/14/2023 

Azarian Group Promotes Pelio to Executive Vice President – Real Estate NJ 06/14/2023

 

Recent Leasing Activity at Livingston Town Center Includes Sareh Nouri Bridal Boutique and Vector Marketing Office

With 6 signed leases and 4 store openings in 2022, leasing activity at Livingston Town Center remains steady, with two recently signed deals announced by Azarian Realty Co., the exclusive leasing and managing agent for the property.

Livingston Town Center, located at the intersection of North Livingston Avenue and Mt. Pleasant (Route 10) in Livingston, New Jersey, is a 2-story, 65,000 SF open-air lifestyle center with 114 integrated luxury townhomes. Its tenant mix is comprised of a diverse array of restaurants, services, offices, and retail stores, such as Anthony’s Coal Fired Pizza, Verizon Wireless, Test Rite Opticians, and Mixology Clothing Company. 

Among Azarian Realty Co.’s top deals of the year at the property is with Sareh Nouri New York, a top luxury bridal designer that will be relocating its existing flagship salon to Livingston Town Center. The salon leased a 4,434 SF end cap with high visibility along N. Livingston Avenue. The tenant is expected to open in June. Kevin Pelio of Azarian Realty Co. represented the Landlord and Jenna Forte of Compass Realty represented the Tenant in this transaction. 

More recently, Vector Marketing has leased a 3,319 SF of professional 2nd floor office space. Kevin Pelio of Azarian Realty Co. represented both the Landlord and the Tenant in this transaction. 

Azarian Realty Co. is the exclusive leasing and managing agent for Livingston Town Center. Contact Kevin Pelio, Executive Vice President, to inquire about current leasing opportunities in Livingston Town Center.

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Related Press:

Leasing Activity Heats Up at Livingston Town Center with Bridal Boutique and Marketing Office Signings – ROI-NJ, 05/18/2023 

 

4,300 SF Leased at Town Plaza II in Orangeburg, NY to Local Fitness User

Azarian Realty Co. is pleased to announce that Overdrive Fitness has leased 4,313 SF in Town Plaza II in Orangeburg, NY. Overdrive Fitness is a premium fitness center specializing in personal training. The fitness user will be relocating from its existing location in Orangeburg to Town Plaza II.

Kevin Pelio of Azarian Realty Co. represented the Landlord and Jennifer Baisley of Keller Williams Valley Realty represented the Tenant in this transaction.

Town Plaza II, located on 500 Route 303 in Orangeburg, New York, is a 25,000 SF 13-tenant strip mall located at a busy signalized intersection. The property is near three colleges with large student populations, as well as single-family homes, assisted living, and office buildings. The property is easily recognizable from the large pylon sign located at the signalized intersection of Route 303 and Mountainview Ave. Current leasing opportunities at Town Plaza II include an end cap space and a fully built-out 2nd generation restaurant and former pizzeria.

The addition of Overdrive Fitness creates a well-rounded tenant mix at Town Plaza II. Other uses in the shopping center include quick-service restaurants and services. The 2nd generation restaurants available for lease create an ideal use for a pizzeria and both sit-down and takeout concepts.

Azarian Realty Co. is the exclusive leasing and managing agent for Town Plaza II. Contact Kevin Pelio, Executive Vice President, or James Azarian, Assistant Director of Leasing to inquire about current leasing opportunities in Town Plaza II.

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Related Press:

Overdrive Fitness Moving in Orangeburg – Patch.com, 05/05/2023 

Pelio of Azarian Realty Co. Represents Landlord in 4,313 SF Lease in Town Plaza II – Mid Atlantic Real Estate Journal, May 2023