Nutley-based Prism Capital Partners has signed two national retail tenants at 1 Orient Way in Rutherford, according to an announcement Thursday. The privately held real estate company owns his 14,000 square foot ground floor retail portion of the mixed-use building, above which his four-story luxury condominium stands.
Club Pilates, a popular boutique fitness franchise, secured a 3,250-square-foot space, and JAG Physical Therapy, a comprehensive outpatient physical therapy and occupational therapy service, occupied a 2,500-square-foot space. Prism’s Deb Stone of Ripco Real Estate, the retail-only leasing agent for 1 Orient Way, brokered both long-term transactions.
“Prism is thrilled to welcome these established, value-add tenants to 1 Orient Way,” said Jon Hoff, president of Prism Property Services. “Lipco has done a great job of bringing new uses to the building to benefit the entire neighborhood. I am benefiting from it.”
1 Orient Way’s roster of retail tenants also includes Avis Rental Car and the UPS Store, which recently extended their leases.
1 Orient Way is ideally located in the heart of Rutherford’s densely populated, vibrant and walkable town center with a wealth of dining, shopping and cultural amenities. Hoff said his two remaining vacancies in the building — a 1,500-square-foot unit and a 4,200-square-foot divisible space — are very good for retail, restaurant and medical users. I pointed out that it offers rental opportunities.
This conveniently located property is located across from a bus stop and just one block from the borough’s New Jersey Transit station. Located 9 miles west of Manhattan, we have easy access to important road systems including Routes 17 and 3 and the New Jersey Turnpike. Meadowlands Sports Complex and the famous American Dream Mall are minutes away.
