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THE GOLDSTEIN GROUP
REPORTS 4.97% VACANCY RATE
IN RETAIL SECTOR ALONG
NEW JERSEY
ROUTE 35 CORRIDOR |
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GLEN ROCK, NJ, JANUARY 10, 2007
— The Goldstein Group, New Jersey’s leading retail real estate brokerage firm,
recently completed Route 35 retail vacancy survey reports a 4.97% vacancy rate
throughout the Route 35 corridor in Hazlet, Holmdel and Middletown, New Jersey.
This low vacancy rate indicates a very strong retail market with limited
available space along the Route 35 corridor.
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The survey analyzed over 180 properties, encompassing over 4.2
million square feet of retail space, within the highway corridor from the Route 35/36 intersection to the Navesink River Road.
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According to The Goldstein Group’s analysis, the Route 35 corridor has over 208,000 square feet of
available retail space. Some of the largest blocks of space include the former Frank’s Nursery, the former
The Wiz space, which is currently in lease negotiations, and the former Office Max space.
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Tenants such as Foodtown, LA Fitness, Massage Envy and The Great Frame Up absorbed over 100,000 square feet of available retail space
during 2006. New developments in this marketplace include a PNC Bank at the Whole Foods Center and a free standing Auto Zone store.
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“Several proposed retail sites could come to fruition over the next two years that will
bring new retailers to the corridor,” stated Chuck Lanyard, principal and director of brokerage services of The Goldstein Group. “Due
to the high incomes in the surrounding areas, many retailers are looking to
enter the marketplace and we expect brisk leasing activity in the next two years.”
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ABOUT THE GOLDSTEIN GROUP |
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The Goldstein Group, New Jersey’s leading full service retail real estate
brokerage firm is celebrating its 20th anniversary. The Company provides a
wide range of services including landlord and tenant representation focused on
leasing, sales, development, property management and financial services. The
Goldstein Group currently represents over 8 million square feet of retail
properties and over 50 national and regional retailers. Through its
partnership with
Retail Brokers Network,
the Company provides extended market coverage throughout the United States.
Founded in 1986, the firm is headquartered in Glen Rock, New Jersey.
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For more information,
please contact |
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Chuck
Lanyard at 201.703.9700,
extension 15 |
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