WAYNE, NJ - The Mainardi Management Co. today announced two important lease signings at a property managed by it in Sussex County, New Jersey.
The Franklin Shopping Center, located on Route 23 in Franklin, Sussex County, New Jersey is a 56,000 square foot Shopping Center located at the intersection of Route 23 and Route 631. For many years, the center had been anchored by Rockaway Sales, a small chain operating in Sussex County as a general merchandiser. The owners of the Shopping Center purchased the lease of Rockaway Sales, which had many years to run at below market rent, and have re-leased the space to The Rag Shop and Harmon Cosmetics.
The Rag Shop (NASDAQ-RAGS) currently operates 65 stores throughout the mid-Atlantic and Florida and will occupy 15,175 square feet of space in the Shopping Center. The Rag Shop sells fabrics, crafts and home goods in its stores.
Harmon Cosmetics, which operates 25 stores in the metropolitan area will occupy 7,200 square feet of space. Harmon Cosmetics stores sell health and beauty aid items at deep discounts.
Mainardi Management Co. is a family owned and operated real estate investment and management company located in Wayne, New Jersey. The firm currently owns and manages 10 properties, all located in New Jersey totaling 780,000 square feet.
For further information, please contact Christopher Mainardi at (973) 696-9265.
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