Denholtz Associates Inks Long-Term Leases Renewals with Two Tenants at Clark Commercial Center10.27.2016
Clark, N.J. (October 25, 2015) – Denholtz Associates has announced that Retro Fitness and KinderCare Learning Centers, LLC have each signed lease renewals for 13,000+ square-feet of space at Clark Commercial Center, a 21-acre mixed use site located at Central Avenue and Terminal Avenue in Clark, N.J.
Both locations are located within Denholtz Associates’ Clark Commercial Center portfolio consisting of 10 commercial buildings totaling 283,201 square feet and one unimproved parcel that Denholtz is evaluating for future development. Retro Fitness, a gym and wellness center, will be leasing the property located at 225 Terminal Avenue with 13,868sf of flex space and KinderCare, a community based early childhood education center, will be leasing the 13,464sf 89 Terminal Avenue location.
The Terminal Avenue property boasts a wide range of tenants including L’Oreal, one of the largest cosmetics companies in the world, leasing over 190,000 square feet of the portfolio and housing its North American research and development facility on the property. Other major tenants include The Lawbook Exchange, New York Community Bank, and the headquarters of the Promptcare Companies. Located just off Exit 135 of the Garden State Parkway between Central and Rahway Avenue, the site offers easy access to I-78 and the New Jersey Turnpike. The facility is within a short distance of restaurants, banks, hotels and other suburban conveniences.
“Following our acquisition of this property last year, our strategy was to find and retain tenants that were great fits for the Township of Clark and would continue to deliver maximum returns on our investment,” said Kristine Hurlbut, Senior Vice President of Leasing at Denholtz Associates. “These long-term lease renewals with well- established companies, like KinderCare and Retro Fitness, are part of this plan and further exemplify our commitment to our multi-tenant diversification strategy which allows us to achieve superior, risk adjusted returns.”