National Shoe Retailer Leases 7,000 Sq. Ft. at Key Properties Shopping Center
Famous Footwear has leased approximately 7,000 square feet for a new location at Hanover Crossroads in Cedar Knolls. The global, brand-name shoe retailer joins a lineup of high-profile tenants at the 107,000-square-foot shopping center, currently under development by Key Properties LLC.
Jerry Welkis of Welco Realty Inc., exclusive leasing agent for Hanover Crossroads, arranged the long-term lease. David Dunkelman of Soloff Retail represented the tenant.
AutoZone, QuickChek and MedExpress Urgent Care recently opened for business at Hanover Crossroads, while construction is nearing completion with summer openings anticipated for new T.J. Maxx, HomeGoods, Five Below and ULTA Beauty stores.
“Momentum continues to build at Hanover Crossroads,” said David Schlussel, co-managing partner of Key Properties. “Famous Footwear complements the property’s carefully curated tenant mix. This new store surely will be a welcome addition to the local retail community.”
With more than 1,000 stores nationwide, Famous Footwear serves as a destination for athletic and casual name-brand shoes for the whole family. Stores offer styles for women, men and kids from brands like Nike, Converse, Vans, Sperry, Madden Girl, Skechers, ASICS and more.
Located at 110 East Hanover Avenue, at the signalized intersection of East Hanover and Ridgedale avenues, Hanover Crossroads sits just one mile from a four-way interchange of I-287. The property and its immediate trade area serve a residential population expected to exceed 134,000 people within a five-mile radius by 2021, and a daytime population of almost 180,000 people within those same five miles.
“Hanover Crossroads’ strong demographics and visibility attracted Famous Footwear,” Welkis noted. “The presence of a strong co-tenancy also provided a significant draw.”
Based in Teaneck, N.J., Key Properties is a second-generation, family-owned and operated real estate development, construction and management firm. The full-service organization invests in a range of commercial property types – with a focus on value-added potential – and is a leading expert in Brownfields redevelopment and condemnation proceedings. Concentrated in Northern and Central New Jersey, the Key Properties portfolio today includes approximately 500,000 square feet of assets and over 30 acres of developable land. Since its inception in 1983, Key Properties has completed a variety of projects including office, industrial and retail properties, as well as mixed-use developments.
