Cushman & Wakefield has been named retail leasing and managing agent for The Plaza at Harmon Meadow in Secaucus. Carlton Strategic Ventures in conjunction with New Valley LLC, the wholly-owned subsidiary of NYSE Vector Group Ltd., recently acquired the 193,000-square-foot retail property and selected the commercial real estate services firm as its strategic partner in revitalizing the asset.
Located at 650 and 700 Plaza Drive adjacent to an Embassy Suites hotel within the mixed-use Harmon Meadow development, The Plaza serves as home to a mix of retail and service tenants including Pier 1 Imports, Chipotle, Starbucks, AT&T, Cheeseburger in Paradise, Houlihan’s, Red Lobster, Cosi, and GNC.
The Cushman & Wakefield leasing team – headed by retail specialists Nancy Erickson and Jennifer Sofia – will work to enhance the tenant mix and maximize traffic to the distinctive, horseshoe-shaped property. The addition of courtyard kiosks in its central quad area will bring additional convenience merchandising to The Plaza.
“This shopping center serves local residents, Harmon Meadow’s daytime corporate population and hotel guests, and it always has enjoyed high occupancy,” Erickson said. “Our mission is to reinvigorate this asset under the new ownership, and serve as Carlton Strategic Ventures’ ambassador to its tenants and the community.”
The Cushman & Wakefield property management team, led by Eileen Carey and Bob Stark, is overseeing day-to-day operations at The Plaza, with a focus on improved operational efficiency. They will work with The Carlton Group to stabilize the occupancy, increase the Plaza’s marketability through courtyard events, branding, and improved functional landscape design to provide improved curb appeal.
“Harmon Meadow is one of Northern New Jersey’s largest multi-use commercial developments,” Carey said. “Our goal is with the support of the Carlton Group, to reestablish The Plaza as the preeminent retail center in the Harmon Meadow Development market.”
According to Carlton Strategic Ventures’ Chief Investment Officer, Navish Chawla, Cushman & Wakefield’s cross-functional approach and growing reputation of its regional retail leasing and property management practice made it a logical selection.
“Cushman & Wakefield has deep market experience and a comprehensive platform that enables it to provide one-stop services as we work to elevate The Plaza to its full potential,” he noted. “Successful retail property management and leasing requires the expertise of collaborative professionals, and Cushman & Wakefield’s approach offers strength in synergy.”
Cushman & Wakefield’s integrated services platform blends leasing and property management functions into a cohesive service unit that offers creative solutions, develops forecasts, carries out transactions, ensures optimal operations, and provides required reporting. For retail clients, this translates into highly efficient properties that sustain and grow rental income, and provide consumers with high-quality, diversified merchandising mixes.Related Articles: