The Hampshire Companies, Claremont Companies, and Circle Squared, the ownership group behind RIVET, Jersey City’s newest luxury apartment development, announce they have signed five ground-level retail leases totaling 9,500 square feet. The five leases bring RIVET’s retail component to full occupancy. The leases include Five Guys for 2,500 square feet, Carvel for 1,000 square feet, University Place Pharmacy for 1,000 square feet, Cuteicles for 3,000 square feet and RivetCare for 2,000 square feet.
Featuring 163 modern residential units, RIVET is a key component in the first phase of a mixed-use master plan to transform Jersey City’s west end neighborhood into University Place. The incorporation of ample service-oriented ground level retail space will offer RIVET’s residents with enhanced walkability to everyday conveniences and will also help create important live-work-play amenities in the growing community.
Along with fast casual food options from Five Guys and Carvel, RIVET’s retail component will feature Cuteicles, a luxury nail salon and spa, and RivetCare, a general practitioner, as well as University Place Pharmacy. In addition to the walkable retail destinations, RIVET also offers premier accessibility to shopping, dining and entertainment beyond the University Place neighborhood, making it a distinctive destination in one of Hudson County’s hottest emerging neighborhoods.
“RIVET’s ground-level retail enhances the tenant experience by offering them access to everyday conveniences right outside their door,” said Norman Feinstein, Principal, Vice Chairman, Fund Manager – Generational Fund. “As University Place continues to grow, these retailers will be an important backbone in the creation of a vibrant, walkable neighborhood designed around the needs of today’s residents and the surrounding community.”
Located one-third of a mile from a Bergen Hudson Light Rail stop, RIVET provides access to the Hackensack River Waterfront and Hoboken as well as the opportunity to transfer to the PATH train for easy access to New York City. 177 structured parking spaces, two bike terminals and street parking provide additional ease for commuters. For added convenience and ease of commuting into New York City, RIVET also boasts a shuttle service to and from the Journal Square PATH station.
Each unit offers the best in modern urban living and design featuring spacious 9’6” ceilings, contemporary kitchens with Frigidaire stainless steel appliances, undermount sinks, quartz countertops, white cabinetry, designer pendant lighting over kitchen islands and subway tile backsplashes. Upscale bathrooms feature large format porcelain floor tile, cultured marble vanity countertops, chrome faucets with sprayers, medicine cabinets, and tubs and showers outfitted with subway tile and glass mosaic accents. In-home, front-loading Electrolux washers and dryers add convenience while Armstrong wood-look luxury vinyl flooring and lever-style door handles provide clean finishes.
RIVET is part of University Place, a master redevelopment plan which will total eight buildings, 1,000 new luxury residential units and access to more than 120,000 square feet of retail, a vibrant performing arts center, cafes, theaters, and lush green space.
RIVET’s residential component is currently 75% leased. With the addition of ground-level retail and the ongoing development surrounding the site, RIVET has seen a substantial increase in leasing velocity over the last 30-60 days. At the current leasing trajectory, it is projected that RIVET will be fully occupied by the end of May. For leasing information please contact Jason Hirkaler at 201-204-0500, rivetmgr@greystar.com or visit http://rivetapts.com. Property management services for RIVET are exclusively provided by Greystar.
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About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
Media Contact:
Dan Johnson
R&J Strategic Communications
908-895-0785
djohnson@randjsc.com