Industry News | November 27, 2013
Starbucks Leases End Cap Space in New Providence, NJ
Seattle-based coffee giant Starbucks leased space in a New Providence, New Jersey, shopping center, marking its first deal in the Garden State since engaging Sabre Real Estate Group LLC last year as its exclusive broker for northern New Jersey.
The new Starbucks will occupy a 2,000-square-foot end cap in the recently renovated Village Shopping Center at 1260 Springfield Ave. It is expected to open early in 2014. The chain has 52 locations in the region. The nearest café to the new site is more than four miles away.
Sabre’s Scott Sher, who is spearheading the cafe chain’s site search in Bergen, Passaic, Essex, Union, and Hudson Counties, represented the tenant. The Goldstein Group represented the landlord, N. Providence LLC, an affiliate of Urstadt Biddle.
Starbucks, which operates more than 19,000 stores internationally, prefers high visibility end cap locations and freestanding buildings with drive-thru windows ranging in size from 1,500 square feet to 1,850 square feet.
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