The Future of the Acme Plaza

Commercial 22 Jul 2007

>This past Thursday (7/19) I had lunch with the owners of the Acme Plaza on 1st Avenue. Knowing I was going to be in North Jersey for a business meeting, I called ahead to see if we could have lunch and discuss their plans for the plaza while I was in the area. I expected one or two people to attend. Imagine my surprise when seven people showed up!

By way of background, the group of three siblings owns and operates 20 to 30 retail centers in New Jersey, New York and Pennsylvania. The Acme plaza in Parkesburg is one of their smallest centers. The group’s Parkesburg’s holdings include not only the Acme property consisting of the the 10 acre parcel on the southwest courner of Route 10 and 1st Avenue from the gas station back to the post office, but includes the 1 acre parcel on the northeast corner of Route 10 and 1st Avenue (see map).

The group’s entire portfolio of properties is managed by Levin Property Management in Plainfield, NJ.

I was pleased to hear of their significant efforts to find tenants for each of the now empty retail spaces in the plaza. They have explored many options and talked with several retailers over the past several years but none of the conversations has resulted in a new tenant.

During our conversation over lunch we explored several options including redeveloping the center, attracting a store to fill the old Acme store and finally explored the possibilities of starting a farmers market. We all agreed a farmers market had the most promise.

Over the coming weeks and months we’ll be exploring the farmers market option with the owners and determine if such a market can be started and sustained.

Let me know what you think about a farm market in Parkesburg. Would you shop at the market if it was there? Clink on the comment field below and share your thoughts.

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