The basics:
- District 15Fifteen signs leases with Spencer Savings Bank, Dhaba Indian Restaurant
- Five more operators expected to open at Parsippany development within eight weeks
- Vermella Paramus adds The NOW Massage, Honey Brewed Cafe
- Two additional retail leases pending in Bergen County
Two North Jersey mixed-use communities are welcoming new retail tenants to further complement the living experience.
Morris County “town center” District 15Fifteen and Bergen County’s Vermella in Paramus expanded their respective commercial rosters with a mix of restaurant and wellness tenants.
Pared with nearby luxury living spaces, and each situated in competitive retail markets, the properties boast a potential built-in customer base, along with convenience lifestyle options for residents.
Located along Route 10, District 15Fifteen from Stanbery Development Group, Morristown-based Claremont Development and PCCP LLC signed new leases with Spencer Savings Bank (2,603 square feet) and Dhaba Indian Restaurant (1,834 square feet). The latter fills the property’s final food and beverage location.
The newest additions precede a flurry of activity ahead for District 15Fifteen.
Stanbery partner Marc Hays anticipates five additional operators will open doors at the property over the next eight weeks (including Burton’s, Mediterranean restaurant Al-Basha, Moxie Salon and Beauty Bar and The Yard Gym). Meanwhile, Discover Strength, Kura Sushi, JetSet Pilates and O’Bagel have already opened doors.
Marlboro-based Pierson Commercial Real Estate serves as exclusive leasing agent for the 58,600-square-foot retail component of the neighborhood-inspired development. Three luxury apartment buildings along with a hotel round out the property.
According to Pierson Vice President Ryan Starkman. “We’ve focused on curating a balanced mix of daily-needs services, boutique fitness and high-caliber dining.”
District 15Fifteen has remaining storefront opportunities available for boutique services and experiential concepts.
Residential leasing is also open as the 262-unit Smyth, 55-plus community Mason East and 236-apartment Mason welcome residents. 15Fifteen’s Property Manager Yessica Campuzano says the retail component is a “huge part” of what sets the property apart.
What’s new: Vermella Paramus
Vermella at 100 Vermella Way in Paramus expanded its retail roster with two leases:
- The NOW Massage – 2,275 square feet
- Honey Brewed Cafe – 2,125 square feet
Midland Park-based VanRockCRE exclusively represents the development’s retail leasing. Principals Marc Palestina and CJ Huter represented the landlord in both transactions. RIPCO Real Estate Executive Managing Director Matt Grundy represented The NOW Massage.
Complemented by 371 residential units, the mixed-used community from Russo Development and Onyx Equities also features 12,000 square feet of ground floor retail space.
Vermella in Paramus offers a strategic position, directly across from the new Valley Hospital and Paramus Park Mall. The spot also provides convenient access to Routes 17 and 4 along with the Garden State parkway. Looking ahead, VanRockCRE said two additional retail leases are pending at Vermella.
Residential leasing and an affordable housing lottery are also underway.
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