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ShopRite to Anchor Newark Development
KEASBEY, N.J. — Wakefern Food Corp. has signed a lease for a new ShopRite store to anchor Springfield Avenue Marketplace, a new urban mixed-use project to be built in Newark, N.J., developer Tucker Properties said Monday.
May 28, 2013
2 Min Read
KEASBEY, N.J. — Wakefern Food Corp. has signed a lease for a new ShopRite store to anchor Springfield Avenue Marketplace, a new urban mixed-use project to be built in Newark, N.J., developer Tucker Properties said Monday.
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Construction on the 67,000-square-foot store is expected to begin later this year at the site, which has been vacant for 20 years. The development, which will including housing and other retail uses, is part of Newark’s Urban Enterprise Zone, where customers are entitled to a 50% reduction of sales tax on most purchases along with the full exemption of taxes on grocery and clothing.
“This is a homecoming of sorts for Wakefern, which located its first warehouse in Newark in 1946,” Neil Greenstein, president of the new ShopRite of Newark and member of the Wakefern cooperative, said in a statment. “Now, nearly 70 years later, this site is set to become the city’s premier retail destination, and it is an ideal time to open a supermarket here.”
More news: ShopRite Breaks Ground in Baltimore
Greenstein also owns and operates the ShopRite of Brookdale in Bloomfield, N.J.
“Wakefern/ShopRite’s decision to come to Newark will strengthen one of the city’s key neighborhoods and give residents a quality supermarket to buy healthy groceries,” Adam Zipkin, deputy mayor of housing and economic development for the City of Newark, said in a statement. “We’re excited for this project to break ground later this year and look forward to its completion.”
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