ShopRite of Newark
UpLift worked with ShopRite of Newark, Tucker Development, Wakefern Food Corporation, and the City of Newark to successfully negotiate a lease agreement and best utilize existing public incentives for the planned ShopRite at Springfield Avenue Marketplace in Newark, N.J. This 67,000 square-foot store will serve as a key component of a large-scale mixed-use development and will provide 280,000 city residents with access to affordable, healthy food.
The store will serve as the anchor for the Springfield Avenue Marketplace development, which is expected to create close to 500 jobs- 240 for site construction and 250 permanent positions. The development is part of Newark’s Urban Enterprise Zone, where customers are entitled to a 50 percent reduction of sales tax on most purchases along with the existing full exemption of taxes on grocery and clothing purchases in New Jersey. The store location is convenient for people traveling via public transportation, with two bus stops at the site. Construction on the ShopRite at Springfield Avenue Marketplace is expected to begin in Fall 2013. The site where the ShopRite will be built has been vacant for over 20 years, so this new store will be key to revitalization efforts by bringing much needed jobs and resources to Newark’s Central Ward. The ShopRite should serve as an anchor business for other satellite businesses to enter the area as well.
UpLift is excited about the promise this store brings and looks forward to continued work with ShopRite of Newark . Their owner, Neil Greenstein, is a community minded grocery operator and the Newark ShopRite team has already begun reaching out to important stakeholders to ensure that this new store fits into the solution for a more vibrant, healthy community. UpLift’s continued work will focus on completing an incentive package and looking for partners to bring affordable in-store healthcare and financial services to the ShopRite customers.
UpLift Services Utilized:
• Lease Negotiation Assistance
• Technical Assistance
• Public Incentives