Aug brings sports club to Montclair

Real Estate Weekly, August 16, 2000

Center Montclair Associates, LP announced today that it has signed a 15-year lease with the New York. Sports Clubs fitness facility to occupy a portion of the former Hahne's department store at 56 Church St. in Montclair, N.J.

"We are thrilled with the New York Sports Clubs' commitment to the Center at Montclair," said James Wurm, development manager for Center Montclair Associates. "From a real estate perspective, New York Sports Clubs will bring high quality traffic into the area. A fitness facility the caliber of New York Sports Clubs also adds a wonderful amenity for any commercial tenant that chooses to lease here."

New York Sports Clubs will occupy 18,000 sf on the lower level of the building, with a sidewalk entrance. James Aug, of Garrick-Aug Associates represented New York Sports Clubs in the transaction. Owners anticipate that the fitness facility will be open by the fourth quarter of 2001.

"We are very excited about being involved in the redevelopment of such a notable building and opening our 19th New York Sports Club in New Jersey," said Fran Sachs, director of development and real estate for New York Sports Clubs. "Montclair is a natural market for us. It ties in well with our New Jersey cluster of clubs, and also allows our members who commute into Manhattan and work out at a New York Sports Club near their offices, to have a convenient option to work out near their homes."

Center Montclair Associates is also in talks with other retail tenants interested in leasing the first floor of the building. The street level of the property, which contains approximately 41,000 sf of gross floor area, will house up to eight retail stores each with signature storefronts. Individual entrances will provide direct access to ground level stores, and storefront windows will be incorporated for display merchandise.

"Our goal is to create a mix of upscale, national retailers that will appeal to the residents of the greater Montclair community," comments Wurm. "The redevelopment of this property provides retailers with a terrific opportunity to par-take in a dynamic, multicultural suburban market just twelve miles west of Manhattan." Wurm pointed out that retailers recognize the very strong demographic profile of the three- and five-mile trade areas surrounding Montclair, which captures more than half a million people. Wurm noted the retail sales potential of the trade area is more than $2.5 billion.

York Hunter, which serves as the project's construction and program manager, has completed the pre-construction activities in anticipation of quick responses to prospects' needs for delivery of finished space in a timely manner.

"We have received significant interest from office tenants considering this location during the past several months," said David Sherman of Insignia/ ESG, the exclusive leasing agent for the office portion of the center at Montclair. "By clearing the interior, prospective tenants now get a better sense of the flexibility of the building's design and its great potential for office us." The office leasing team also includes Richard Charles and Charles Laginestra from Insignia/ESG's Saddle Brook office. Insignia/ESG's New York office division is also engaged in the effort.

The redevelopment project involves the renovation of the existing building as well, as the construction of two additional floors, creating a total of 105,000 sf of prime office space and 41,000 sf of retail space. The existing facade will be replaced with an architecturally dynamic facade that will transform the building to new landmark style.

Improvements to the existing building include sophisticated telephone switching for electronic communications and broad bandwidth cabling for advanced computer services. Other high tech building operations will include dish transmission, redundant high voltage power, fire safety controls, a building-wide security system, and energy management systems. These upgrades make the building attractive to telecommunication and dot-com tenants seeking both space and a technical infrastructure to support their business. Energy-efficient lighting and heating systems with individual controls will be also incorporated, all with the intent of reducing the tenant's utilities expenses. The Center's public areas will include a newly renovated lobby with signage and directories promoting building tenants as well as amenity services available to employees.

Center at Montclair has 130 dedicated on-site parking spaces and more than 700 off-street parking spaces within a two-block walk. Public improvements including streetscape enhancements and a new municipal parking deck is being considered by the township.

The property is prominently located in Montclair Town Center, the township's traditional business district. The area is vibrant and includes a broad mix of theatres, restaurants, boutiques; and galleries. Montclair Town Center is a regional activity hub for Northern Essex County, with easy access to major roadway systems including Routes 46, 3, and 23, Interstate 240, and the Garden State Parkway (Exit 151). Manhattan bound buses leave from the building every half hour for the 25 minute ride to the Port Authority. New Jersey Transit's Montclair Connection project, which will offer a convenient one seat trip to New York's Penn Station, is slated for completion in. 2001.