According to Brian S. Silbert, President and CEO of the highly regarded 36-year-old real estate services firm, headed by Silbert, as leasing and managing agent for The S. Hekemian Group the announcement of three prominent retailers becoming tenants within the 32-acre mixed-use development that has revitalized the former Mercedes-Benz USA campus within the Borough of Montvale is a significant achievement.
According to Silbert, “the national chains — Williams Sonoma, Pottery Barn and Fleming’s Steakhouse and Wine Bar— are among 19 new tenants within our 134,000 square feet commercial portion at what’s known as North Market.” Prominent home furnishing retailer Williams Sonoma will occupy 5,500 and 12,000 square feet, respectively, while Fleming’s has committed to 8,118 square feet for its third location within New Jersey.
Completion of the now leased and constructed retail space comprising buildings one through three within North Market will result in 100 percent leased or committed to. New stores and eateries opening this spring and throughout the summer, another milestone for the Hekemian’s redevelopment of the former Mercedes headquarters and combined with the 230,000 SF Wegmans anchored Shoppes at DePiero Farm properties, also leased and managed by the Silbert organization. Constructed between 2016-2018, The Shoppes at DePiero Farm has seen unprecedented retailer demand and strong sales and we are extremely pleased to be associated with Peter Hekemian and his organization since the inception of this shopping center. “Within a final phase of The Farm, nearing completion this summer, we have several exciting new tenants including anchor The Learning Care Group, with its Everbrook Academy, a well-known national childcare provider and several health-related companies to be announced within weeks, as the shopping center combined with North Market is a unique live, work and shopping dream for many consumers and businesses within beautiful Montvale and surrounding communities.”
“Our newest retailers and other businesses will now bring the synergy of North Market to the next level, realizing our core vision from day one to create an energetic, exciting neighborhood lifestyle in one of the country’s leading suburbs,” said Peter Hekemian, senior managing director of The Hekemian Group. “This is especially true when you include Fleming’s, Williams Sonoma, and Pottery Barn — the best-in-class centerpieces we have long sought to complete the North Market experience. We couldn’t have done it without our partnership with the Borough of Montvale and our great team of professionals and association with Brian S. Silbert and their progressive approach to redevelopment.”
New retail tenants for Building four will join the previously announced Valley Health System, which will open a 60,000-square-foot surgical center in the neighborhood. Additionally, the developer has leased 95 percent of the roughly 100,000-square-foot office building that it constructed on the overall site, while it has also leased some 95 percent of the more than 300 new luxury apartments at the property.
“We continue to appreciate the vision of The S. Hekemian Group and its team in seeking out retailers and restaurants that match our own vision for Montvale as one of northern New Jersey’s most desirable communities,” Mayor Mike Ghassali said. “Our residents have consistently expressed their desire for premium retailers and upscale dining options in town, and we are so pleased to have been able to facilitate the arrival of these three new members to our business community.”