{"id":1004636795,"date":"2022-12-22T01:01:00","date_gmt":"2022-12-22T09:01:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004636795"},"modified":"2022-12-22T15:05:59","modified_gmt":"2022-12-22T23:05:59","slug":"new-jersey-shopping-center-lands-fun-city-as-anchor","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/","title":{"rendered":"New Jersey Shopping Center Lands Fun City as Anchor"},"content":{"rendered":"
\"<\/a>

Union Lake Crossing. Image courtesy of Irgang Group<\/p><\/div>\n

Irgang Group<\/strong> has landed a new anchor at Union Lake Crossing, the company\u2019s 393,000-square-foot power center in Millville, N.J. Fun City Adventure Park<\/strong> is now on the tenant roster, having signed a 35,500-square-foot lease at the southern New Jersey retail destination.<\/p>\n

\u201cFun City adds a new dimension to our mix that should drive more traffic, lengthen the time of shopper visits and bolster Union Lake\u2019s appeal to new tenants\u2014including restaurants and other complimentary uses,\u201d Mark Irgang, CEO of Irgang Group, told Commercial Property Executive<\/em>.<\/p>\n

Fun City will set up shop with trampoline courts, a zipline, an arcade and other entertainment offerings in the majority of the anchor space that had been home to Dick\u2019s Sporting Goods<\/strong>, which relocated its store to a mall in neighboring Vineland in 2016. The family entertainment center will count a recently expanded ShopRite supermarket as well as Kohl\u2019s, Ross Dress For Less, Staples and PetSmart, among its co-anchors.<\/p>\n

Irgang relied on a team led by Joseph Dougherty of Metro Commercial<\/strong> for representation in the lease transaction with Fun City. Don Mace of Keypoint Partners<\/strong> stood in for the tenant.<\/p>\n

Magnet for more than fun<\/strong><\/h2>\n

Originally developed in 2006, Union Lake boasts a key location along Cumberland County\u2019s primary retail corridor. The shopping center has been part of Irgang\u2019s portfolio since November 2021, when, as part of its expansion into the retail sector, the real estate investment and management firm acquired the approximately 43-acre asset from Goodman Properties<\/strong> in a transaction valued at $56.5 million.<\/p>\n

\u201cWe\u2019ve hit the ground running on Union Lake, with discussions underway with a number of potential tenants for the remaining spaces,\u201d said Mario Brunelli, vice president & principal with R.J. Brunelli & Co<\/strong>. LLC, told CPE<\/em>. R.J. Brunelli is the exclusive leasing agent for Union Lake. \u201cAttracting over 4.5 million visitors in the last 12 months, this high-visibility, high-traffic power center is a logical landing spot for retail, restaurant, medical and service tenants looking to expand in the Southern New Jersey market.\u201d<\/p>\n

With Fun City\u2019s commitment in place, Union Lake is now 86 percent leased and Irgang expects to welcome more new names to the power center shortly. \u201cThe Fun City lease announcement is already generating interest from potential tenants,\u201d Mark Irgang noted.<\/p>\n

Retail lives<\/strong><\/h2>\n

Retail real estate in the Millville-Vineland area is faring well, having recorded a 6.1 percent vacancy rate in the third quarter of 2022, according to a report by Lee & Associates<\/strong>. And the positive conditions extend beyond the submarket. \u201cThe state of South Jersey retail real estate could best be described as vibrant,\u201d Brunelli said. However, as is the case with the U.S. retail real estate sector<\/a> in general, retail in southern New Jersey has had to make some adjustments in the post-pandemic climate.<\/p>\n

\u201cWhile actively working with national and mom & pop retailers, we’ve also had to think more outside the box when leasing big box spaces,\u201d Brunelli added. \u201cAs in other markets, it\u2019s not uncommon to backfill big boxes with uses such as recreation, entertainment, health care, self-storage and even, warehouse\/industrial.\u201d<\/p>\n

Fun City is on track to open at Union Lake in mid-2023, marking the months-old entertainment retailer\u2019s second location in New Jersey.<\/p>\n","protected":false},"excerpt":{"rendered":"

Irgang Group, the new owner of Union Lake Crossing in Millville, signed the family entertainment retailer to a 35,500-square-foot lease.<\/p>\n","protected":false},"author":969,"featured_media":1004636797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,10,21749],"tags":[32762,37627],"class_list":["post-1004636795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest","category-northeast","category-retail","tag-lee-associates","tag-metro-commercial-real-estate"],"acf":[],"yoast_head":"\nNew Jersey Shopping Center Lands Fun City as Anchor - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Irgang Group has landed Fun City Adventure Park as its new anchor at Union Lake Crossing in Millville, N.J.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Jersey Shopping Center Lands Fun City as Anchor\" \/>\n<meta property=\"og:description\" content=\"Irgang Group has landed Fun City Adventure Park as its new anchor at Union Lake Crossing in Millville, N.J.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-22T09:01:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-22T23:05:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Union-Lake-Crossing-Millville-N.J.-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"798\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/\",\"name\":\"New Jersey Shopping Center Lands Fun City as Anchor - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Union-Lake-Crossing-Millville-N.J.-featured.jpg\",\"datePublished\":\"2022-12-22T09:01:00+00:00\",\"dateModified\":\"2022-12-22T23:05:59+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"description\":\"Irgang Group has landed Fun City Adventure Park as its new anchor at Union Lake Crossing in Millville, N.J.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/new-jersey-shopping-center-lands-fun-city-as-anchor\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Union-Lake-Crossing-Millville-N.J.-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Union-Lake-Crossing-Millville-N.J.-featured.jpg\",\"width\":798,\"height\":600,\"caption\":\"Union Lake Crossing. 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