Latest signings include Old Navy, Skechers,
Inspira Health, Rally House, Five Guys, Poke Bros. and
Crumbl
MILLVILLE, N.J., May 17, 2024
/PRNewswire/ -- Irgang Group has signed a series of new leases
totaling 46,000 square feet at Union Lake Crossing. These come
on the heels of a previous wave of 61,000 square feet of new leases
executed by Irgang, bringing the ratio of space leased at the
393,000-square-foot power center to approximately 98% At the time
the New York-based firm acquired
the southern New Jersey shopping
center in November 2021,
approximately 72% of space was leased.
New signings for the property include Old Navy, Skechers,
Inspira Health, Rally House, Poke Bros., Crumbl, and a recently
opened Five Guys. These follow previous signings and openings of
Fun City Adventure Park, Cato Fashions and Boot Barn, as well as
the expansion and remodeling of Five Below.
Serving the greater Millville-Vineland market, Union Lake Crossing is
anchored by ShopRite, Kohl's/Sephora and shadow anchor Target. In
addition to Fun City (which debuted in January 2024), sub-anchors include Ross Dress For
Less, PetSmart, Staples, and Boot Barn. Other notable tenants
include Famous Footwear, Party City, Five Below, Buffalo Wild
Wings, Sonic, Moe's Southwest Grill, AAA and Charles Schwab.
"With these latest signings of prominent national and regional
tenants, and deals in the works with two other national chains for
small spaces, all that remains available at Union Lake is a
2,300-square-foot inline store and an undeveloped pad site that can
include drive-thru lanes," noted Irgang Group CEO Mark Irgang.
"In all, we've executed leases on nearly 108,000 square feet
since taking over the property, backfilling major vacancies arising
from the departure of Dick's, bankruptcies of Pier 1 and Dressbarn,
and closings of several smaller tenants," he continued. "This
progress is a testament to the quality of this real estate, the
retail industry's rebound, and the efforts of our exclusive leasing
agent R.J. Brunelli & Co. and their predecessor, Metro
Commercial."
Among the recently executed leases, the 15,000-square-foot Old
Navy will occupy the remaining portion of the former Dick's store
that was primarily filled by Fun City. The retailer, which is
expected to open this fall, will be relocating to Union Lake from a
nearby center. R.J. Brunelli Principal/ VP Mario Brunelli and sales associate Chelsea Reizner represented Irgang Group on the
lease, while Old Navy was represented by Michael D. Friedman of Inline Realty.
Healthcare provider Inspira Health is expected to open this
summer in a 9,127-square-foot endcap space previously occupied by
Pier 1. The office will offer a wide range of services from primary
and specialty practitioners. Inspira currently operates three
hospitals and over 35 satellite physicians' offices across five
southern NJ counties. Brunelli and Reizner represented Irgang
Group, while Inspira was represented by Craig Levitan of Rendina Healthcare Real
Estate.
A summer 2024 debut is also anticipated for Skechers, which will
open its first store in Cumberland
County in a 7,500-square-foot space previously held by
Dressbarn. Irgang Group was represented by Brunelli and Reizner,
while Skechers was represented by George
Wisnoski of Equity Retail Brokers.
Rally House, the fast-growing chain featuring officially
licensed gear from pro and college teams, is also expected to make
its county debut this summer, leasing a 7,500-square-foot space
formerly occupied by Marburn Curtains. Brunelli and Reizner
represented Irgang Group on the lease, while Jonathan Spoerl and Michael Gorman of Metro Commercial represented
Rally House, which currently operates 190-plus stores in 18
states.
As noted, Five Guys already opened its first location in the
county at the property, leasing a 4,400-square-foot space that had
been home to Quest Diagnostics. Brunelli and Reizner brokered the
lease for Irgang Group, while Stanton
Brown of MSC represented the burger chain's
franchisee.
Additionally, Irgang subdivided a 2,400-square-foot former Geico
office to accommodate two fast-growing food chains: Crumbl and Poke
Bros, with both expected to open this summer.
Crumbl, which franchises over 1,000 cookie bakeries throughout
the U.S., leased 1,400 square feet. Irgang Group was represented by
Brunelli and Reizner, while R.J. Brunelli Principal/CEO
Ron Deluca represented Crumbl's
franchisee.
Poke Bros., which will occupy a 1,000-square-foot space, has
80-plus locations in 16 Eastern and Midwestern states offering
customized Hawaiian-style bowls with diced raw fish, rice, various
toppings and sauces. The landlord was represented by Brunelli and
Reizner, while Niklas Marley of
Metro Commercial represented the tenant.
"Coupled with previously added tenants, these latest signings of
national and regional tenants help fulfill our objective of
broadening Union Lake's offerings of family apparel and food," said
Irgang. "In particular, the property's position as a family
destination got a strong shot in the arm early this year when Fun
City opened its 36,000-square-foot indoor recreation and amusement
park, attracting big crowds every weekend and on holidays."
The improvements to the tenant mix have contributed to a 21%
increase in annual customer visits at Union Lake from 4.2 million
at the time of Irgang Group's 2021 acquisition to over 5.1 million
today, according to Placer.ai. "When the new stores who just signed
leases open, we expect to see another large increase in visits,"
said Gene Rarey, Operations
Manager-Retail Properties at Irgang Group. Rarey also serves as the
company's construction manager for new tenant spaces, with
architectural review of tenant plans directed by Irgang in-house
architects Orli Eshkar, RA and Yuri
Menzak RA.
Located in the heart of Cumberland
County's regional shopping hub, Union Lake Crossing is
situated at the signalized intersection of North 2nd
Street (State Highway 47) and Union Lake Boulevard, with easy
access to State Highway 55, a major north-south freeway.
The center, which originally opened in 2006, draws from a
primary market with 128,621 residents in a 10-mile radius and an
average household income of $77,568.
But with its 73,740-square-foot ShopRite drawing 1.6 million
visitors annually, patrons travel from well beyond the primary
market. Approximately 23% of the property's customers come from 10
to 30 miles away—extending the draw to a total market of 961,012
residents with an average household income of $99,645.
For leasing information, contact Chelsea
Reizner, (201) 724-4931, creizner@rjbrunelli.com or visit:
https://rjbrunelli.com/properties/millville-union-lake-crossing/
Irgang Group's roots in retail real estate date back to 1981,
when it acquired and redeveloped a retail strip in The Bronx. The firm subsequently turned to
developing and redeveloping mixed use and multifamily properties in
New York City, owning and managing
a portfolio of over 20 multi-family, commercial and mixed use
properties in the market.
In 2021, the firm began acquiring, redeveloping and managing
large suburban outdoor retail centers. in other markets. In
addition to Union Lake, the firm operates Main Street South Fulton
in Atlanta and Poplin Place in the
metro Charlotte, NC market. Irgang
noted that his firm continues to seek acquisitions of power centers
and neighborhood shopping centers in densely populated areas
throughout the U.S.
Media contact: At Jaffe Communications,
Elisa Krantz, 377530@email4pr.com,
(908) 789-0700.
Note to Media: Photos of Union Lake Crossing are
available from Jaffe Communications.
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SOURCE Irgang Group