Profile
A monthly column featuring retail real estate companiesFocused on Retail in Pennsylvania/New Jersey/Delaware
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Legend Properties serves the DE, NJ and PA market with a bevy of
retail tenant rep accounts, along with working with developers of
traditional strip centers, new construction and urban/specialty leasing
assignments. The company, which celebrated its 15th anniversary in
February, also offers third-party management. The company’s roster of retail clients include Ace Hardware, Amazon Café, Annie Sez, Ashley Furniture, Ashley Stewart, Bertucci’s, BJ’s Wholesale Club, Bok Bok Fresh, Camille’s Sidewalk Café, Cash Today Financial Centers, Checkers, The Children’s Place, Coconuts Music & Movies, Desert Moon Fresh Mexican Grille, Empire Beauty School, Fast Frame, Golden Corral, Great Clips, Gold’s Gym, Harmon Discount, Kildare’s, Lot Stores, Mandee, Michael’s, Modell’s, Qdoba, Ritz Camera, Save A Lot, Sears Grand, Sears Outlet, Strauss Auto, Starbucks, Tuesday Morning, Ulta, UPS, Value Warehouse and Wallace Theaters. |
Its leasing portfolio consists of almost 100 retail projects spanning
from new construction to releasing existing space throughout DE, NJ and PA.
Some of Legend’s urban sites that it is currently leasing comprise a site
located at 720-736 South Street in Philadelphia, PA. The store front has
30,000 sq.ft. of space available on two levels. Area demographics include a
population of 132,233 and 66,858 households within two miles. The site is
near Whole Foods Market, Gap and Tower Records. Burgess Plaza, located at
the intersection of Chelten and Wayne Avenues in Philadelphia, PA has spaces
of 830 sq.ft. to 35,000 sq.ft. of office and retail available. Area retail
includes Pathmark, Shop Rite and Save-A-Lot supermarkets. Area demographics
include a population of 350,000 within three miles. The company is also
leasing an urban waterfront site in Camden, NJ. Dubbed The Victor Building,
the project will entail retail storefronts on street level with five floors
of luxury lofts. Adjacent to the site are the Delaware River Tram, which
links New Jersey to Penn’s Landing in Philadelphia, the future expansion of
the New Jersey State Aquarium and Rutgers University Camden Campus. The
project fronts Market and Front Streets. Legend Properties also manages
Woodland Plaza, an urban center, which is located at the intersection of
62nd and Woodland Avenue. The company took the tenant-starved center and
brought it up to 100% occupancy.
Legend is currently under way with the leasing of a mixed-use site in Penns
Grove, NJ. The Riverwalk at Penns Grove is located on West Main Street at
Delaware Avenue. The center, plotted on 25 acres on the Delaware River, has
191,000 sq.ft. of retail, office, restaurant and entertainment center space
available. The Riverwalk is connected to an 800 ft. pier and offers a view
of the Delaware Memorial Bridge. The project is within two miles of
Interstate 295 Exit 4. Area demographics include a population of 3.6 million
within a 45-minute drive. The Riverwalk will be broken up into seven
buildings. The first building will occupy a space of 40,000 sq.ft. and will
feature a Jersey Sailor and Restaurant & Show. Building two will have 1,400
sq.ft. to 7,000 sq.ft. available for retail on the first floor and a hotel
with 28 rooms on the second floor. The third building will have retail
spaces of 1,400 sq.ft. to 7,000 sq.ft. on its first floor and 32 extended
stay rooms. Building four will feature another 1,400 sq.ft. to 7,000 sq.ft.
of retail space on the first floor and 12 office units. The sixth and
seventh buildings will feature 25,000 sq.ft. for retail/interactive artisan
workshops and 4,500 sq.ft. of restaurant space respectively.
A few of the firm’s more traditional projects that are coming out of the ground
or undergoing expansion during the next year or two entail: a retail center in
Salem, NJ, located on 813 South Broadway/Route 49. The 355,000 sq.ft.
neighborhood center has 152,000 sq.ft. of retail space available and is proposed
to be anchored by Wal*Mart; Mount Laurel Supercenter, which is located at the
intersection of Route 38 and Fostertown Road in Mount Laurel, NJ has 80,000
sq.ft. of spaces available for lease along with two pad sites. Proposed anchors
include Sam’s Club and Wal*Mart. The 327,000 sq.ft. neighborhood center is
located near Costco, Home Depot, Target, Wegman’s, Lowe’s and Shop Rite; The
Shops at Wilkins Station, located at the intersection of Route 541 and Wilkins
Station Road in Medford, NJ, has spaces of 24,000 sq.ft. The center is located
just south of the Medford Route 70 circle and has new stores opening next
spring; Cedar Hill Shopping Center, located on Route 73 in Voorhees Township, NJ
has 50,000 sq.ft. available for lease. BJ’s Wholesale Club currently anchors the
project and a Lowe’s is proposed to coanchor the 373,000 sq.ft. neighborhood
center; Grande Shopping Center, located at the intersection of Routes 9 and 47
in Middle Township, NJ is a 500,000 sq.ft. community center with pad sites,
anchor and in-line space available. Area demographics include a trade-area
population of more than 125,000 people. The center is being expanded, with
Giant, Lowe’s, Wal*Mart, Michaels, Ross and Bed Bath and Beyond as anchors.
Frankford Arsenal, located at the Bridge Street exit of Interstate 95 in
northeast Philadelphia, PA has big box space available. The 500,000 sq.ft.
retail project has an estimated daily traffic count of 150,000 vehicles on
Interstate 95.
For more information, contact: James DePetris, Legend Properties, Inc., 625
Ridge Pike, Suite A 107, Conshohocken, PA 19428; 610-941-4034; Web site:
www.lpre.com.