The remaining retail space along Park Square‘s Irving Street side is expected to be occupied by the end of this year, according to Matt Dobrowolski of Iozzi-Williams, the exclusive listing agent.
A Linden-based CPA, Davis Financial, is expected to move into about 1,200 to 1,300 square feet to the right of Park Square’s main entrance, signing a five-year lease, he said. Deisel Training Grounds, a strength and speed training and tae kwon do facility, will move into about 700 square feet next door, hopefully by November with a four-year lease.
The corner unit, at Elm Avenue and Irving Street, is expected to take up 1,200 to 1,300 square feet. It’s expected to be a “strong retail store” that will “generate good foot traffic,” said Dobrowolski, who also serves on the Redevelopment Agency. He declined to reveal details on the third tenant as arrangements should be finalized within several weeks.
“That fills space at very, very strong square feet rates” with base rates ranging $22 to $23 per square foot, and “could set the tempo for the city,” said Dobrowolski. “This is a very strong indicator for Rahway that we are not only alive and well but raising the bar,” he said, adding that the proximity to the train station and plans for the arts district prompted interest in the location.