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Vermella at Garwood Station - Retail South Avenue & Center Street
2,287 - 10,467 SF of Retail Space Available in Garwood, NJ 07027
Highlights
- Great retail location with high traffic count
Space Availability (2)
Display Rent as
- Space
- Size
- Term
- Rent
- Service Type
| Space | Size | Term | Rent | Service Type | ||
| 1st Floor | 3,847-8,180 SF | Negotiable | Upon Application Upon Application Upon Application Upon Application Upon Application Upon Application | TBD | ||
| 1st Floor | 2,287 SF | Negotiable | Upon Application Upon Application Upon Application Upon Application Upon Application Upon Application | TBD |
1st Floor
New mixed-use project in the heart of Garwood with 296 residential units and 19,500 square feet of retail at the intersection of South Avenue and Center Street. An additional 73 residential units are across the street, with construction complete and currently leasing. PILOT program that will reduce each tenant’s taxes, also providing a fixed figure for decades. Dedicated on-site parking for retail customers. High trafficked retail corridor for the Westfield, Cranford and Garwood communities, along with additional surrounding municipalities. Captured audience with residents in the building as well as being adjacent to the Garwood Train Station, within steps of the project. The building is currently 99% leased with an average rent of over $3,000 per month. Extremely dense market with a population of approximately 129,000 within 3 miles and surrounded by national and regional retailers. Very strong median income levels to coincide with a daytime population of approximately 137,000 within 3 miles. Outdoor seating opportunities available.
1st Floor
New mixed-use project in the heart of Garwood with 296 residential units and 19,500 square feet of retail at the intersection of South Avenue and Center Street. An additional 73 residential units are across the street, with construction complete and currently leasing. PILOT program that will reduce each tenant’s taxes, also providing a fixed figure for decades. Dedicated on-site parking for retail customers. High trafficked retail corridor for the Westfield, Cranford and Garwood communities, along with additional surrounding municipalities. Captured audience with residents in the building as well as being adjacent to the Garwood Train Station, within steps of the project. The building is currently 99% leased with an average rent of over $3,000 per month. Extremely dense market with a population of approximately 129,000 within 3 miles and surrounded by national and regional retailers. Very strong median income levels to coincide with a daytime population of approximately 137,000 within 3 miles. Outdoor seating opportunities available.
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing agent for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SITE PLAN
PROPERTY FACTS FOR South Avenue & Center Street , Garwood, NJ 07027
| Min. Divisible | 2,287 SF | Gross Internal Area | 19,574 SF |
| Property Type | Retail | Year Built | 2022 |
| Min. Divisible | 2,287 SF |
| Property Type | Retail |
| Gross Internal Area | 19,574 SF |
| Year Built | 2022 |
About the Property
• New mixed-use project in the heart of Garwood with 296 residential units and 19,500 square feet of retail at the intersection of South Avenue and Center Street. • PILOT program that will significantly reduce each tenant’s taxes, also providing a fixed figure for decades. • Dedicated on-site parking for retail customers. • High trafficked retail corridor that residents of Westfield, Cranford and Garwood. • Captured audience with the residents in the building as well as being adjacent to the Garwood Train Station, within steps of the project. The building is currently 80% leased with an average rent of over $3,000 per month. • Extremely dense market with a population of approximately 129,000 within 3 miles and surrounded by national and regional retailers attracting consumers from a multitude of towns. • Very strong median income levels to coincide with a daytime population of approximately 137,000 people within 3 miles. • Outdoor seating opportunities available
Nearby Major Retailers
-
Gregg Medvin -
Pierson Commercial Real Estate
Presented by
Vermella at Garwood Station - Retail | South Avenue & Center Street
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