Prime South Jersey Retail Space For Lease in Turnersville NJ

245 Fries Mill RoadWolf Commercial Real Estate, a premier Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services, now has available well-located South Jersey retail space for lease in the Fries Mill Shopping Center at 245 Fries Mill Road Turnersville NJ.

There is between 1,600 square feet and 7,000 square feet of prime retail space in South Jersey currently available in the Fries Mill Shopping Center at 245 Fries Mill Road Turnersville NJ.  This Southern New Jersey retail space for lease is divisible to 2,000 square feet with a drive-thru.

The asking lease price for this retail space in Southern New Jersey is $18 per square foot NNN.  This South Jersey retail space for lease at 245 Fries Mill Road Turnersville NJ is available for immediate occupancy through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services.

The Fries Mill Shopping Center, where this Southern New Jersey retail space for lease is situated, is located at a high-profile, hard-corner signalized intersection.  This retail space in South Jersey is accessible from both Hurffville Crosskeys Road and Fries Mill Road.

Multiple retail establishments, including Target, WalMart, Shop Rite and Acme, are located in close proximity to this South Jersey retail space for lease.  This retail space in Southern New Jersey also is near Kennedy Hospital, Virtua Hospital and Washington Township High School.

This Southern New Jersey retail space for lease in the Fries Mill Shopping Center at 245 Fries Mill Road Turnersville NJ sits amid high-income residential housing and several medical and professional offices.  This retail space in South Jersey is being offered by Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services.

This retail space in Southern New Jersey offers abundant parking and features monument and above-store signage.  More than 40,000 vehicles per day pass by this Southern New Jersey retail space for lease at 245 Fries Mill Road Turnersville NJ.

More than 152,000 people reside within five miles of this retail space in South Jersey, and the average household income within the same radius is $88,729.

For more information about this South Jersey retail space for lease in the Fries Mill Shopping Center at 245 Fries Mill Road Turnersville NJ or about other South Jersey commercial properties for sale or lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a leading Southern New Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is the foremost Southern New Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our Southern New Jersey commercial real estate brokerage firm.

Local Market Remains Steady despite National Economic Volatility

new Jason graphic - 6-3-15While the national economy was affected by turmoil in the global markets, the South Jersey commercial real estate market continued its progress for another quarter, according to the latest quarterly analysis from Wolf Commercial Real Estate, a premier South Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services, including South Jersey retail space and other South Jersey commercial properties.

An expected summer slow-down did slow the pace of transactions, but overall growth, expansion, and positive absorption stayed on track said the report from this South Jersey commercial real estate brokerage firm. Healthcare, insurance, financial services, defense contracting, and technology companies led the way.

“As in the past several quarters, we saw a healthy volume of transactions due to business expansion and improving job growth during the third quarter,” said Jason Wolf, founder and managing principal of Wolf Commercial Real Estate, a leading South Jersey commercial real estate brokerage firm.. “We also saw an uptick in deal activity among small and mid-size businesses, which is welcome good news that the market had been waiting for.”

The report from this South Jersey commercial real estate broker details many factors contributing to continued strength in the market, including large and small lease deals, the beginning of new construction activity, several investment acquisitions of office properties, and continued repositioning among the area’s REITs.

According to the report issued by Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm with expertise in South Jersey commercial real estate listings and services, including South Jersey retail space and other South Jersey commercial properties, this repositioning also covers the latest coup for the GROW NJ program, a recently announced 1.7 million square-foot mixed use development along the waterfront in Camden, NJ.

According to Wolf Commercial Real Estate, the third quarter posted approximately 477,983 of new leases and renewals executed in the South Jersey commercial real estate market. This is a nearly 20 percent improvement over the third quarter a year ago. New tenant leases consisted of approximately 280,360 square feet, and renewals and expansions made up approximately 197,623 square feet. New leasing activity represented approximately 58.7% of all deals for the quarter.

Overall, gross absorption for Q3 is in the range of approximately 233,610 square feet. In addition to the consummated deals, this section of the report from the South Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings indicated a pipeline of approximately 350,000 square feet of significant pending lease deals expected to close in the near term.

Other office market highlights in the analysis from Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm that specializes in South Jersey commercial real estate listings and services, including South Jersey retail space and other South Jersey commercial properties:

  • Overall vacancy in the market continues to drop, and is now down to approximately 12.15 percent, an improvement of three quarters of a point over the previous quarter. Vacancy in Burlington County is now down to 8 percent, while in Camden County it stands at 16.3 percent.
  • The majority of leasing activity for the third quarter was comprised of deals ranging in size from 3,000-80,000 square feet.
  • Average rents for Class A & B product continue to show strong support in the range of $10.00-$13.00/sf NNN or $21.00-$23.00/sf gross, with an overall market average showing strong support in the $10.00-$13.00/sf NNN or $20.00-$23.00/sf gross for the deals completed during the quarter. Rents have remained stable.

The full report is available upon request from Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm with expertise in South Jersey commercial real estate listings and services, including South Jersey retail space and other South Jersey commercial properties.

For more information about South Jersey retail space or any South Jersey commercial properties, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), Leor Hemo (856-857-6302; leor.hemo@wolfcre.com), Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com), Todd Levin (856-857-6319; todd.levin@wolfcre.com), Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) or Christopher Henderson (856-857-6337; chris.henderson@wolfcre.com at Wolf Commercial Real Estate, a South Jersey commercial real estate broker.

Wolf Commercial Real Estate is a premier South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services that include South Jersey retail space and other South Jersey commercial properties.  Wolf Commercial Real Estate markets commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Retail Space Update: Developers Mix Office, Residential with Retail

new Jason graphic - 6-3-15In a move to attract tech-savvy millennials and affluent baby boomers, commercial real estate developers are bringing office space and residential living space to retail centers such as South Jersey retail space, completely changing the long-standing design of lifestyle centers and traditional malls in the U.S., according to a report from the CoStar Group.

These days, the report said, mall and lifestyle center developers are just as interested in landing solid anchor tenants such as multi-screen or IMAX cinemaplexes and Apple Stores as they are in introducing creative office space and apartments to their multi-million-dollar retail projects.

The driving force behind these changes is an effort to attract the millennial generation’s 80 million consumers, the largest and fastest-growing retail segment in the U.S. economy.  While millennials still lag behind baby boomers in terms of the greatest retail buying power, they nonetheless wield considerable influence on the industry.

Seeking to replace dollars lost to online shopping, national and South Jersey retail space developers are hoping to create new income streams by mixing office and residential space into malls and lifestyle centers to create mixed-use projects that will appeal to the multi-tasking nature of millennials.

Millennials — the generation born in the mid 80s and roughly 20 years after — are considered social individuals who desire walkable, mixed-use environments that allow them to accomplish multiple tasks and activities in a single outdoor location.  That might mean stopping at the gym, the grocery store, a restaurant, a movie theater and more, all in one place.

Projects under construction in several locations now are mixed-use, open-air malls to which office space, residential units and even hotels will be added down the line.  While these projects are new construction, some developers are looking at bring the mixed-use concept to existing retail centers.

These new mixed use projects operate as both the commercial and the social and civic centers of the community, with outdoor public space that follows the design principles of traditional urban planning, one developer said.

Figuring out whether a mixed use center or a more traditional lifestyle center is best for a community comes with understanding the community’s demographic and economic base and knowing what customers want.

The myth that millennials are hip, urban dwellers is dispelled by the Urban Land Institute’s finding that only 13 percent of Gen Yers live in or near downtowns.  The majority live in neighborhoods in cities or in the suburbs, which stands to reason since the oldest — and most influential millennials — those now in their mid to late 30s — beginning to have children and create households.  About 35 percent of millennials own their own homes.

While the focus now is on lifestyle centers and malls, these changing demographics also may soon have an impact on the traditional suburban office park.  As office park tenants search for new ways to attract employees in their 20s and 30s in an increasingly competitive job market, they are looking to their landlords to make the suburban workplace more appealing by adding residential living space and retail space to create the multi-use environment millennials want.

For more information about South Jersey retail space or other South Jersey commercial properties, please call Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a premier South Jersey commercial real estate brokerage firm that specializes in retail space in South Jersey.

Wolf Commercial Real Estate is a South Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings, provides unparalleled expertise in matching companies and individuals seeking retail space in South Jersey with the South Jersey commercial properties that best meet their needs.  As experts in South Jersey commercial real estate listings and services, the team at our South Jersey commercial real estate brokerage firm provides ongoing detailed information about South Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for retail space in South Jersey for sale or lease, Wolf Commercial Real Estate is the South Jersey commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey and South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Retail Space for Sale in Bridgeton

NEW 399 East Broad StreetWolf Commercial Real Estate, a leading South Jersey commercial real estate broker with expertise in Southern New Jersey commercial real estate listings and services, now has available South Jersey retail space for sale in Bridgeton.

This South Jersey retail building for sale at 399 East Broad Street Bridgeton NJ is a tremendous investment opportunity for buyers looking to jump into the South Jersey retail space market. This Southern New Jersey retail space for sale is currently occupied by a Dollar Tree store for 10 years under a triple net lease. A free-standing, newly constructed +/- 9,040 square foot Bridgeton retail building for sale sits on this 5.91-acre piece of retail space in South Jersey.

This retail space in Bridgeton is located in the Cumberland County city’s main business district. This Southern New Jersey retail space for sale at 399 East Broad Street Bridgeton NJ is being offered by Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services.

This retail space in South Jersey at 399 East Broad Street Bridgeton NJ sits at the street’s intersection with South East Avenue and this South Jersey retail building for sale offers excellent visibility and access to the local community.

The asking sale price for this retail space in Bridgeton is $1,237,784.62. This South Jersey retail space for sale at 399 East Broad Street Bridgeton NJ is available through Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services.

More than 42,000 people live within five miles of this Bridgeton retail building for sale.  The average household income within the same five-mile radius is nearly $72,176.  More than 13,300 vehicles per day pass by this Bridgeton retail space for sale.

For more information about this South Jersey retail space for sale at 399 East Broad Street Bridgeton NJ, or about any other South Jersey retail building for sale or lease or any South Jersey commercial properties for sale or lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is the leading South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

Low Level of Retail Construction Starting to Crimp Net Absorption

new Jason graphic - 6-3-15With shopping center vacancies, including those involving South Jersey commercial properties, continuing to tighten as retailers with retail space in South Jersey and other areas across the country slowly fill the remaining excess space, with both nationwide and South Jersey commercial real estate listings are facing a dwindling number of high-quality locations.

The U.S. retail real estate vacancy rate, which includes South Jersey retail space, drifted down another 10 basis points to 6.1% in the second quarter — the 12th consecutive quarter of vacancy decline. The retail vacancy rate – according to a report released by The CoStar Group and disseminated by Wolf Commercial Real Estate, one of the leading South Jersey commercial real estate brokerage firm – has already dropped below pre-recession lows in major metros like Boston, New York, and Denver, and demand remains solid despite continued store closings by Sears, Kmart, The Gap, Office Depot, Staples, Macy’s and even grocer A&P.

As tight as the market feels with the vacancy rate of national and South Jersey retail space just 10 basis points shy of its previous cyclical low in 2007, CoStar senior real estate economist Ryan McCullough argues it’s even tighter today with both national and South Jersey commercial real estate listings than it was at the height of the boom eight years ago.

Today, only 60 million square feet of new retail space in South Jersey and across the U.S. is under construction, compared with 150 million square feet that was under construction in 2007 when developers working with national and South Jersey commercial properties were building or expanding power centers, malls and shopping centers in pursuit of population growth in the suburban fringes.

“You really have far fewer options if you’re a retail tenant in today’s market, and that’s really starting to wear on the demand numbers,” said McCullough, who prepared the report that was shared with Wolf Commercial Real Estate, a top South Jersey commercial real estate brokerage firm. “What’s holding back a lot of tenants today is the scarcity of available supply in good locations with strong demographics.”

Tenants looking for retail space in South Jersey and across the country absorbed about 32 million square feet at mid-year 2015, compared to 37 million square feet in first half of 2014. The declining absorption numbers in recent quarters are a logical consequence of the lack of available space for national and South Jersey commercial properties, rather than declining tenant demand, McCullough said. Until more U.S. and South Jersey retail space enters the market, demand is likely to be reflected in terms of higher rent growth rates, he added.

Despite the limited supply of available space, the market for South Jersey commercial real estate listings as well as those from coast to coast is still experiencing a bit of opportunistic leasing and store openings by retailers like Wal-Mart, Dollar General and Dick’s Sporting Goods, which can be productive in somewhat less attractive locations. McCullough expects such activity will likely dominate retail expansion until new shopping center supply ramps up. This perspective was supported on the local level by Wolf Commercial Real Estate, a highly respected South Jersey commercial real estate brokerage firm.

For more information about South Jersey retail space or any South Jersey commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Leor Hemo (leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, a premier South Jersey commercial real estate broker that specializes in retail space in South Jersey.

Wolf Commercial Real Estate is a South Jersey commercial real estate brokerage firm that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a South Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services, provides unparalleled expertise in matching companies and individuals seeking new South Jersey retail space with the South Jersey commercial properties that best meets their needs.  As experts in South Jersey commercial real estate services, the team at our South Jersey commercial real estate brokerage firm provides ongoing detailed information about South Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for retail space South Jersey for sale or lease, Wolf Commercial Real Estate is the South Jersey commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Banks Close More Branches As Transactions Move Online

new Jason graphic - 6-3-15Joining many consumer goods retailers who are downsizing their brick and mortar locations, some of the nation’s biggest banks are now touting their bank branch closure plans. The primary driver behind both decisions is the same: more banking activity is occurring online and less in the physical world.

But banks have an additional driver: regulators are issuing stricter capital regulations are driving up accounting and personnel expenses in order to manage compliance.

Given the higher cost environment, banks – which make up a significant portion of South Jersey commercial properties – no longer are quietly downsizing their branch networks. Instead, bank executives are making plans for further consolidation loud and clear, pointing out steps how they plan to rectify what many top bankers refer to as “core banking inefficiencies.”

Over the last five years, banks that are a component of retail space in South Jersey have trimmed their branch networks by 13,406 bank branches, while opening just 8,011 new ones, according to FDIC statistics. Their footprint in now 4.6% smaller than five years ago, with slightly more than 95,000 U.S. offices opened today.

In discussions with investors, banks are now talking about cutting another 4% to 5% of their branch networks this year alone.

At its peak, Bank of America had as many as 6,100 bank branches, including a number of them in South Jersey retail space. That has fallen to about 5,000 branches today as competitive conditions and customer behaviors have changed.

Bank of America said it has about 31 million banking customers, and of those, about 17.6 million of them use mobile banking. In addition, the bank said about 60% of its transactions are now all digital, made through phones, online or ATMs at branches, according to Brian T. Moynihan, chairman and CEO of Bank of America.

Jamie Dimon, chairman and CEO of JPMorgan Chase, underscored the accelerating move to online banking, saying the recipe for failure is for a bank to never change locations, never change size, or never change the way they operate.

JPMorgan closed about 100 branches in the past year – with some of them in South Jersey retail space – and now operates about 5,600 in its network, with further branch closings planned.

In addition to responding to consumer trends, bankers also noted the added costs associated with complying to new regulations.

After several rounds of branch closures, Donna Townsell, vice president of corporate efficiencies at Home Bancshares, said, “The savings and efficiencies gained from these closures will help to tee us up for the upcoming expenses that we expect to incur as we begin the planning for Dodd-Frank stress testing requirements.”

The long lead time before branches both in and out of retail space in South Jersey close is also important in the rightsizing process, other bankers noted. Banks now find themselves in a transitional phase of serving two distinct customer basis: the old-school, in-branch customers, and all-digital customers.

For more information about South Jersey retail space or any South Jersey commercial properties, please call 215-799-6900 to speak with Jason Wolf (jason.wolf@wolfcre.com) or Leor Hemo (leor.hemo@wolfcre.com) at Wolf Commercial Real Estate, a premier South Jersey commercial real estate broker that specializes in retail space in South Jersey.

Wolf Commercial Real Estate is a South Jersey commercial real estate brokerage firm that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a South Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services, provides unparalleled expertise in matching companies and individuals seeking new South Jersey retail space with the South Jersey commercial properties that best meets their needs.  As experts in South Jersey commercial real estate listings and services, the team at our South Jersey commercial real estate brokerage firm provides ongoing detailed information about South Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for retail space South Jersey for sale or lease, Wolf Commercial Real Estate is the South Jersey commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Premier South Jersey Retail Space for Lease in Cherry Hill NJ

926 Haddonfield RoadWolf Commercial Real Estate, a leading South Jersey commercial real estate brokerage firm with expertise in Southern New Jersey commercial real estate listings and services, is now offering 1,850 square feet of premier South Jersey retail space for lease in the 926 Plaza shopping center at 926 Haddonfield Road Cherry Hill NJ.

This Southern New Jersey retail space for lease at 926 Haddonfield Road Cherry Hill NJ is a contemporary, newly-constructed shopping center in a vibrant retail shopping area of Cherry Hill. This South Jersey retail building for lease has excellent exposure to thousands of potential customers daily.

The asking lease price for this retail space in South Jersey is $24 per square foot NNN. This South Jersey retail space for lease in the 926 Plaza shopping center at 926 Haddonfield Road Cherry Hill NJ is available for immediate occupancy through Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services.

This well-situated South Jersey retail building for lease is located on busy Haddonfield Road, directly across from the Towne Place at Garden State Park and just south of the Cherry Hill Mall. The many retailers and restaurants surrounding this Southern New Jersey retail space for lease in the 926 Plaza shopping center include Wegmans, The Home Depot, Nordstrom, Crate & Barrel, DSW, Best Buy, Target, Dick’s Sporting Goods, Barnes & Noble and The Cheesecake Factory.

This retail space in South Jersey is a highly desired end cap unit. This South Jersey retail space for lease provides excellent co-tenancy to any use, ease of access and a very committed ownership. This Southern New Jersey retail space for lease is being offered by Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm that specializes in Southern New Jersey commercial real estate listings and services.

Parking is plentiful at this retail space in South Jersey at a ratio of 5/1,000 sf. There is both monument and building signage available at this South Jersey retail building for lease.

On average, nearly 35,000 vehicles per day drive by this South Jersey retail space for lease in the 926 Plaza shopping center at 926 Haddonfield Road Cherry Hill NJ. More than 307,418 residents live within five miles of this Southern New Jersey retail space for lease. The average household income within the same radius of this retail space in South Jersey is $74,722.

For more information about this South Jersey retail space for lease in the 926 Plaza shopping center at 926 Haddonfield Road Cherry Hill NJ or about other South Jersey commercial properties for sale or lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a premier South Jersey commercial real estate broker.

Wolf Commercial Real Estate is the foremost South Jersey commercial real estate broker that provides a full range of Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers. Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.

South Jersey Retail Space Update: Retailers Struggle between Online Expansion and New Store Openings

new Jason graphic - 6-3-15Retailers in the U.S. and South Jersey retail space markets are finding themselves in a struggle to strike a balance between online expansion and new store openings to fuel future growth, a new retail market analysis concludes.

In the new world of retail marketing in the U.S., retailers concerns about how to fund their growth are running high, according to BDO USA’s ninth annual analysis of risk factors noted by the 100 largest U.S. retailers in their most recent annual reports.  This concern comes in the face of solid year-over-year industry performance, positive sales projections, strong consumer confidence and other positive economic indicators.

BDO reported that 92 percent of U.S. companies identified risks in domestic growth and expansion this year, up from 56 percent in 2013. Retailers in the U.S. and South Jersey retail space markets remain determined to steadfastly increase sales and strengthen store brands, they also understand that their customers want online shopping choices and the convenience of omnichannel platforms.

The focus of investing primarily in new store openings went by the wayside in 2008 when retailers saw their return on investment in new stores drop as more and more consumers turned to online shopping, BDO said.  As a result, retailers slated a higher level of capital expenditures for future growth through online sales, supply chain networks and systems implementations, acknowledging that these new, unproven investment strategies carried a higher degree of risk.

In this challenging new world of retail marketing, retailers are at different stages of funding omnichannel growth.

Wal Mart Stores, which operates 4,500 stores in the U.S. and 2,120 others globally, spent nearly 40% ($5.1 billion) of its fiscal year 2014 capital expenditures ($13.1 billion) on new store expansions and store relocations.  But that amount declined to $4.1 billion or about 34% for the fiscal year that ended January 31, 2015, BDO said. Meanwhile, the big box retailer’s capital investment in information systems, distribution, digital retail and other omnichannel expenses rose from $2.5 billion (20%) to $3.3 billion (27%) over the same time period.

Conversely, Macy’s Inc. — which operates 823 stores in 45 states, making it the nation’s biggest department store chain — is dealing with stumbling blocks as it introduces its new omnichannel marketing plan.

Macy’s invested about $1.1 billion in its last fiscal year primarily on new stores, store remodels, store maintenance and the continuing renovation of Macy’s Herald Square in New York, the company’s flagship store.  And new stores remain an important segment of the retail giant’s growth strategy, with plans in place to open eight new Macy’s or Bloomingdale’s stores in the next four years in Hawaii, California, Connecticut, Florida and Puerto Rico.

Macy’s reported a drop in first quarter 2015 sales, down 0.7% from a year ago to $6.232 billion, while also noting an increase in expenses, up 1.2% over the past year.  The company blamed some of the higher expenses on the ongoing launch of its major omnichannel initiatives that are meant to encourage sales growth and enhance consumers’ online, mobile and in-store shopping experiences.

Macy’s omnichannel marketing strategy remains a key corporate goal, but the company concedes the learning curve was “steeper than we had expected.”

Retailers in nationwide and South Jersey retail space markets have devoted major capital expenditures as well as significant amounts of time and energy to expand their omnichannel sales prospects.  But only 16% of retailers are able to profit from fulfilling omnichannel demand, blaming the high cost of order fulfillment for reducing margins, a new survey conducted by PwC for JDA Software finds.

Nonetheless, retailers said omnichannel fulfillment was a high or top priority and have earmarked an average 29% of this year’s total capital expenditures on expanding omnichannel fulfillment operations.

For more information about retail space in South Jersey or any South Jersey commercial properties, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a premier South Jersey commercial real estate broker with expertise in South Jersey retail space.

Wolf Commercial Real Estate is a South Jersey commercial real estate brokerage firm that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.

Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services, provides unparalleled expertise in matching companies and individuals seeking retail space in South Jersey with the South Jersey commercial properties that best meets their needs.  As experts in South Jersey commercial real estate listings and services, the team at our South Jersey commercial real estate brokerage firm provides ongoing detailed information about South Jersey commercial properties to our clients and prospects to help them achieve their real estate goals.  If you are looking for retail space in South Jersey for sale or lease, Wolf Commercial Real Estate is the South Jersey commercial real estate broker you need — a strategic partner who is fully invested in your long-term growth and success.

Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our Philadelphia commercial real estate brokerage firm.

Prime South Jersey Retail Space for Lease in Willingboro

raw Avery Plaza photoWolf Commercial Real Estate, a leading Southern New Jersey commercial real estate broker with expertise in South Jersey commercial real estate listings and services, is now offering prime South Jersey retail space for lease in The Avery Plaza Willingboro NJ.

This new state-of-the-art contemporary Southern New Jersey retail space for lease is currently in the planning stages and will be located adjacent to The Avery Apartments, a vibrant community of 450 residential units developed by Robert Weiss, President of Weiss Properties.

Willingboro, where this retail space in South Jersey is located, is in the midst of a community and economic renaissance. Since the late 1990s, Willingboro has successfully encouraged development and established relationships with businesses as it creates the newest, most promising chapter in its rich and complex history.

The Avery Plaza at Route 130 and Pennypacker Drive Willingboro NJ presents a phenomenal opportunity for national and private retailers, restaurateurs and other establishments to get in on the ground floor of this brand new, highly touted Willingboro retail space for lease.  This retail space in Willingboro is being offered through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm specializing in South Jersey commercial real estate listings and services.

Weiss Properties currently is seeking tenants interested in securing retail space in South Jersey at The Avery Plaza for the following uses:  gas, convenience, fine and/or casual dining, fast food, beauty/hair/nail salon, general merchandise, food market, daycare, and many others.

This Southern New Jersey retail space for lease will feature more than 43,000 square feet of retail space in Willingboro in six different buildings.  A total of 23,658 square feet of retail space in South Jersey with units divisible to 1,200 square feet is being offered in two buildings at The Avery Plaza Willingboro NJ.  A third South Jersey retail building for lease at Route 130 and Pennypacker Drive Willingboro NJ features a 4,500-square-foot restaurant pad facing Route 130.  Two additional forward-facing pads will each provide 2,542 square feet of South Jersey retail space for lease.  This Willingboro retail space for lease also will include a South Jersey retail building for lease with of 9,800 square feet of retail space in South Jersey earmarked for daycare and office use.

There is a liquor license available for this Southern New Jersey retail space for lease in The Avery Plaza Willingboro NJ.  This Willingboro retail space for lease will provide 357 parking spaces.  This retail space in Willingboro is available for lease through Wolf Commercial Real Estate, a Southern New Jersey commercial real estate broker that specializes in South Jersey commercial real estate listings and services.

A daily average of more than 43,000 vehicles travel by this South Jersey retail space for lease in The Avery Plaza at Route 130 and Pennypacker Drive Willingboro NJ.  Nearly 138,000 residents live within five miles of this retail space in South Jersey.  There are nearly 53,000 households in the same five-mile radius around this Southern New Jersey retail space for lease, and the average household income in the same area is $70,061.

For more information about this South Jersey retail space for lease in The Avery Plaza at Route 130 and Pennypacker Drive Willingboro NJ or about any other South Jersey retail building for lease or South Jersey commercial properties for sale or lease, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com) at Wolf Commercial Real Estate, a Southern New Jersey commercial real estate brokerage firm.

Wolf Commercial Real Estate is the foremost Southern New Jersey commercial real estate broker that provides a full range of South Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our Southern New Jersey commercial real estate brokerage firm.

South Jersey Retail Space Kicks Off 2015 on a Positive Note

research information graphicContinuing the momentum witnessed in the fourth quarter, 2015 is off to a strong start for the South Jersey commercial real estate market, which includes South Jersey retail space and South Jersey office space, according to the latest quarterly report from Wolf Commercial Real Estate, a South Jersey commercial real estate broker that specializes in Southern New Jersey commercial real estate listings and services.

While noting that challenges persist, the firms new quarterly report said the Southern New Jersey commercial real estate market has been buoyed by strong activity in the quarter among major healthcare institutions, investors, and large tenants.

“The moves we’ve seen this quarter signal significant business expansion and job growth,” said Jason Wolf, founder and managing principal of Wolf Commercial Real Estate. “This has helped to boost commercial real estate confidence and lending conditions, leading to a more optimistic atmosphere that is expected to continue throughout 2015.”

Significant transactions already announced and/or anticipated by major players in the South Jersey commercial real estate market, which includes Southern New Jersey retail space, are highlighted in the report.  Included are Virtua’s planned relocation to 62,000 square feet of office space in autumn 2014 and the sale of two of Brandywine Realty Trust’s trophy assets to out-of-market investors. The two buildings — Libertyview and 1000 Atrium Way — totaled 221,405 square feet, and sold for an average of approximately $134/sf.

There were approximately 472,154 square feet of new leases and renewals executed in the market in the first quarter, according to the report from Wolf Commercial Real Estate, a South Jersey commercial real estate brokerage firm with expertise in Southern New Jersey commercial real estate listings and services. This level translates to a 7% increase in executed transactions over the 441,141 square feet that closed in the first quarter 2014, Wolf Commercial Real Estate said.

New tenant leases amounted to approximately 186,427 square feet and renewals and expansions were approximately 285,727 square feet in the Southern New Jersey commercial real estate market, which includes South Jersey retail space.  Approximately 39.5% of all deals in the first quarter were for new leasing activity.  Overall, the first quarter’s gross absorption was in the range of approximately 255,161 square feet, the South Jersey commercial real estate broker’s report noted.  Beyond the closed deals reported, there is approximately 450,000 square feet of significant pending lease deals still pending and anticipated to close soon in the South Jersey commercial real estate market, which includes Southern New Jersey retail space.

In examining the market for retail space in South Jersey, the report noted that consumer confidence had attained its highest monthly level since the recession started.  The South Jersey commercial real estate brokerage firm said consumer confidence levels are expected to improve further into the year.

Highlights from the report’s section on Southern New Jersey retail space include:

  • Overall South Jersey retail space vacancies in the tri-county area remained in the area of  10.5%, a slight increased from the fourth quarter, but is still encouraging in comparison to recent years.
  • Class A rental rates in the market for retail space in South Jersey continue to show strong support in the range of $30.00-$40.00/sf NNN, as rents remained steady.
  • Much of the demand for retail space in South Jersey is coming from national chains, which are experiencing growth. In comparison, smaller retailers and locally based retailers are still struggling in the marketplace..

Other highlights from the section of the report on South Jersey office space were:

  • GROW NJ continues to draw companies to New Jersey.  In the first two months alone, 10 projects totaling  $84.6 million in funding were approved.
  • Overall vacancies in the local commercial real estate market continue to decline, now down to approximately 13.6 percent, an improvement over the fourth quarter 2014.
  • Average rents for Class A & B product experienced ongoing strong support in the range of $10.00-$14.00/sf NNN or $21.00-$24.00/sf gross, with an overall market average showing strong support in the $10.00-$12.00/sf NNN or $20.00-$22.00/sf gross for transactions closed in first quarter 2015. Rents remain stable.
  • All major private owners and REITS are showing moderate leasing and prospect activity in the first quarter.  As vacancies in Burlington County have tightened, the larger vacancy opportunities are shifting to Camden County, which is not controlled by these ownership entities.

The full quarterly report is available upon request from Wolf Commercial Real Estate.

For more information about Southern New Jersey retail space or any South Jersey commercial properties, please contact Jason Wolf (856-857-6301; jason.wolf@wolfcre.com), Leor Hemo (856-857-6302; leor.hemo@wolfcre.com), Christina Del Duca (856-857-6304; christina.delduca@wolfcre.com), Todd Levin (856-857-6319; todd.levin@wolfcre.com), Scott Seligman (856-857-6305; scott.seligman@wolfcre.com) or Christopher Henderson (856-857-6337; chris.henderson@wolfcre.com) at Wolf Commercial Real Estate, a South Jersey commercial real estate broker.

Wolf Commercial Real Estate is a leading South Jersey commercial real estate brokerage firm that provides a full range of Southern New Jersey commercial real estate listings and services, marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other South Jersey commercial properties for buyers, tenants, investors and sellers.  Please visit our websites for a full listing of South Jersey commercial properties for lease or sale through our South Jersey commercial real estate brokerage firm.