Jeweler to take last Park Square retail spot

Kennedy Jewelers will fill the final retail space at Park Square, moving four blocks from its current location.

Mayor James Kennedy said a 10-year lease is up on his East Milton Avenue and Fulton Street location and the new space, at the corner of Elm Avenue and Irving Street, is smaller, thus more affordable. “I like the street parking and cozier feeling,” he said in an email, describing it as “more ’boutique-ish.'”

Kennedy, who ends his fifth term as mayor at the end of this year, said it will be his fifth location in 32 years.

The other two retail tenants at Park Square are expected to be Davis Financial, a Linden-based CPA firm, and Deisel Training Center, a strength training and tae kwon do facility. The target for occupancy is December while Kennedy Jewelers could be January of February, according to Matt Dobrowlowski of Iozzi-Williams Village Green ERA, the exclusive listing agent. All three of the tenants have signed either four- or five-year leases in the range of $22 to $23 per square feet annually.

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Here’s a cool photo gallery in Crain’s New York, “Musty streets now hot strips,” featuring half a dozen “formerly forgotten streets becoming urban destinations, boasting a growing crop of trendy eateries and boutiques.” How’d they do it? “It requires daring entrepreneurs seizing the opportunities of cheap rents and an underserved market, as well as landlords hungry enough to take chances on unproven operators.”

5 thoughts on “Jeweler to take last Park Square retail spot”

  1. This new spot seems to be a bit more classy.Perhaps the old spot could be a wine seller being it in on a busy street and has large windows for a nice display..? just throwing ideas out there..

  2. Anon, Incorrect. The landlord of Park Square (where Kennedy Jewelers plans to move) is Landmark Companies of Keasbey. The developer of Carriage City Plaza was Elizabeth-based Silcon Inc./Carriage City Properties.

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