June 25, 2021
Jersey City, N.J. Grid Real Estate has announced the completion of four Jersey City retail leasing deals across Journal Square and Downtown Jersey City, bringing a fresh wave of new businesses into some of the city’s most active corridors.
After a long and exhausting year shaped by the COVID-19 pandemic, plenty of businesses had to pause expansion plans or close their doors for good. As 2020 came to a close and 2021 began, though, the retail industry started to see the first signs of reopening, and these four new leases reflect that momentum locally.
New Tenants Across Four Jersey City Storefronts
The retail space at 745 Newark Avenue was previously home to Hilsa, a neighborhood halal grocer, and had sat vacant since the start of the pandemic. It will now open as Exotic Snax, a Bronx based variety store known for rare, foreign snacks, beverages and tobacco products. This 900 square foot storefront marks the brand’s fourth location overall and its first in New Jersey.
At 115-117 Brunswick Street, a 1,700 square foot anchor corner space has undergone a complete modernization and will become the new flagship location for Into the Void Coffee and Antiques. The dual purpose storefront describes itself as an espresso lounge that also sells one of a kind antiques, blending craft coffee with a curated retail experience.
At 190 Academy Street, part of a 122 unit micro apartment building, a 1,350 square foot anchor retail space has been leased to Flipsigi, a Filipino taqueria. The restaurant offers a modern take on an approachable Filipino menu, crafted by celebrity chef Jordan Andino, and is expected to become a popular destination for food lovers in the neighborhood.
At 591 Summit Avenue, Jersey City’s first retail and office building, Confident Care will take over a 900 square foot retail space that had become available shortly before the pandemic. Confident Care provides skilled and non-skilled home care services to residents throughout New Jersey.
Lease Terms and the Team Behind the Deals
GRID’s Bobby Antonicello and Greg D. Edgell represented the landlords in each of these Jersey City retail leasing transactions. Exotic Snax, Into the Void Coffee and Antiques, and Flipsigi each signed five year leases with five year options, while Confident Care signed a three year lease. Altogether, the four deals total 4,850 square feet of leased retail space.
“It has been a challenging year for a countless number of businesses within our community, and we at Grid Real Estate LLC are honored to be part of the effort in jumpstarting the Gold Coast economy,” said Bobby Antonicello. “All tenants have interesting concepts that offer competitive advantages in their fields, allowing them to ultimately thrive in Jersey City.”
Looking Ahead for Jersey City Retail
These four leases offer an encouraging sign for Jersey City retail leasing activity heading into 2021, with new food, beverage and care concepts filling spaces that had gone vacant during the pandemic. As Journal Square and Downtown Jersey City continue to grow, deals like these are helping bring fresh energy back to the Gold Coast’s commercial corridors.
For more information on these transactions, contact Bobby Antonicello Jr. at Bobby@gridcre.com
