Crossroads at Somerset’s Phase II Completely Occupied with Three New Leases

NEW JERSEY—With the signing of three new leases, Crossroads at Somerset’s Retail Phase II is 100 percent occupied. The multi-phase 118,000-sq.-ft., mixed-se shopping center is owned, developed and managed by Crossroads Companies LLC of Mahwah, N.J.

Anchored by a ShopRite supermarket, the center recently added Integrated Health, La Vida massage and Robert Wood Johnson University Hospital to its tenant roster.

Crossroads at Somerset opened in 2007 with a 70,000-sq.-ft. ShopRite supermarket. In 2010, the development of the center’s Phase II was approved and a 4,025-sq.-ft., free-standing Wells Fargo Bank was added.

The balance of Retail Phase II involved 10 retail stores.

The final stage of Crossroads at Somerset’s development involves Retail Phase III, a 25,733-sq.-ft. retail building, suited for either a single user or sub-division. The stores are currently under construction, with completion slated for mid-2013.

“Thanks to a surging population of more than 56,000 households, within a five-mile radius, and 1,400 households with an average income of $98,014, within a one-mile radius, Crossroads at Somerset presents a unique leasing opportunity,” said Al Giglio, owner’s rep of Crossroads Companies.

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