Gymnastics School Leads Northern New Jersey Leasing Surge With Six Commercial Deals
A gymnastics academy leased the largest retail and service space in northern New Jersey’s commercial leasing boom. The Goldstein Group signed six new leases in the region, reflecting retail and health-service market momentum.
Academy of Dreams Gymnastics bought 10,000 square feet in Northvale Square on Livingston Street in Bergen County, the largest purchase. Suburban specialty-service firms are interested in that milestone lease, the largest of six disclosed.
Another 4,400-square-foot Sherwin-Williams deal at 140 48th Street in Union City highlighted urban demand for major retailers. Skylands Urgent Care leased 2,100 square feet at 1499 Union Valley Road in West Milford, showing demand for health-service space outside big cities.
Cuban Eddie’s (1,000 square feet) and Moaaz Restaurant (1,500 square feet) leased space at Creek Brook’s Saddle Brook address at 487 Market Street, demonstrating community center food and drink demand. Capital One/North Fork leased 287 Browertown Road in Woodland Park/Woodland Park to complete the portfolio, demonstrating financial-service occupiers’ interest in smaller-market freestanding properties.
The six acquisitions show northern New Jersey corporate leasing patterns. First, tenants with amenity- or service-oriented business models crave larger spaces, as the gymnastics school’s 10,000 square-foot commitment shows. Second, the deals span Union City’s urban density to West Milford’s rural-suburban environment, demonstrating leasing demand. Third, the mix of uses—fitness/gymnastics, health care, retail paint store, restaurants, bank—demonstrates that flexible space owners can accommodate several tenants.
Having six leases signed in one announcement shows the intensity of tenant-demand and the importance of professional broker teams. These agreements with principals and colleagues appear to have strengthened the Goldstein Group’s position for future investments across asset classes and municipalities.
New tenants frequently boost neighborhood traffic, jobs, and center upgrades. A large Northvale gymnastics academy may attract families and youth sports, raising auxiliary spending. Cuban Eddie’s and Moaaz enhance their neighborhood center’s cuisine and social appeal.
Northern New Jersey will see greater leasing if tenants value experience, service, and convenience. Demand for unoccupied retail or service buildings in strong submarkets should be driven by flexibility, visibility, and accessibility.
The 10,000-square-foot gymnastics deal anchors the latest six-lease wave in northern New Jersey, indicating a solid market with tenants seeking growth. As leasing increases, property owners and brokers should watch service, retail, and health-care tenants.
Sources
NJBiz coverage of commercial leasing in northern New Jersey
