Power Center Now 82% Leased with the Addition of Savers and Expanded Total Wine
Urban Edge Properties (NYSE:UE) announced today that Savers, a national thrift store concept, has signed a lease for more than 25,000 SF at The Plaza at Cherry Hill. Located in a prominent end-cap space, this popular value destination with its large social media presence, adds a new use to this power center, located in Cherry Hill, New Jersey. With the addition of Savers, the overall occupancy at the property has increased to 82% in the last 12 months, providing essential and experiential retail alongside Total Wine, including Aldi, LA Fitness and Raymour & Flanigan. This is Savers’ third store in the Greater Philadelphia market.
“With Savers opening this year and the brand-new Total Wine store fully operational, The Plaza at Cherry Hill is experiencing a terrific revitalization,” said Justin Lustig, Vice President, Leasing for Urban Edge Properties. “Savers brings a great concept and new use to the property that complements our other tenants and will draw shoppers from an even wider radius.”
The Plaza at Cherry Hill is anchored by national brands in a premium and highly accessible location and shadow-anchored by the super-regional Cherry Hill Mall in Camden County. The entire center will undergo property enhancements including upgrades to the façade, landscaping and parking lot to improve the customer experience.
Urban Edge was represented by Rob Cooper & Shane Hart of Metro Commercial Real Estate and Spence Mehl RCS Real Estate Advisors. Stephen Carrozza, Metro Commercial Real Estate, worked on behalf of Savers.
ABOUT SAVERS®
As one of the world’s largest thrift retailers for bargain priced, pre-owned clothing, accessories and household goods, Savers’ mission is to champion reuse and inspire a future where shopping secondhand is second nature. Learn more about the Savers family of thrift stores, our impact and the #ThriftProud movement at www.savers.com/thrift-
ABOUT URBAN EDGE PROPERTIES
Urban Edge Properties is a NYSE-listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 76 properties totaling 17.2 million square feet of gross leasable area. For further information, please visit https://www.uedge.com.
