Contact Us

NJ Retail Market Improving, More Stores Leasing Space [AUDIO]

Here’s another good sign for the economy; the retail market in New Jersey is starting to grow.

Spencer Platt, Getty Images

According to a survey by The Goldstein Group, the overall vacancy rate for retail in the northern and central part of the state fell to 7.6% the first six months of this year, down from 8% last year.

“We are seeing a continuing trend of retail space being leased up, at least 20 new retailers have moved into various corridors this year” said Chuck Lanyard, president of the Paramus-based Goldstein Group.

Lanyard says stores are leasing more space because they are getting good deals.

“Its a good time for stores to get in at a less expensive rent and open up new businesses.”

The Goldstein report found that new construction and redevelopment projects are taking place in various areas throughout the state including Mahwah, Toms River, Sayreville, New Milford, Randolph, Cedar Knolls, Montvale, Fort Lee, Parsippany, and Teterboro.

“After awhile certain industries start to pick up…we are seeing a lot more furniture stores moving in these days” he said.

Lanyard expects the recovery of the retail market to continue the remainder of the year.

“This is a good sign that the economy is improving overall and also that consumer spending is up so I think we will see that trend continue.”

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Best of WOBM

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for WOBM Listener Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive WOBM Listener Club contests, events, coupons, presales, and much more delivered to you for FREE.