Thomasville Furniture Signs 22,000 SF Retail Lease

PARAMUS, NJ-Thomasville Furniture has signed a lease for 22,000 sf at The Shoppes at IV here, bringing the redeveloped shopping complex to 96% occupancy. The “IV” refers to the property’s location on heavily traveled Route 4.

“We almost have a full house,” according to Brian F. Ricklin, managing director of asset management for Strategic Resources Corp. SRC is a New York-based investment advisor to Phoenix Four Inc., which owns the property through an affiliate. “And what we’ve got is a house full of furniture,” Ricklin adds.

“With Macy’s Furniture Gallery and Interni also tenants at the center, we may have the largest collection of furniture under one roof in the area,” he continues. “It’s really become ‘furniture alley’ all along Route 4, with great results for the merchants.”

SRC has substantially rehabilitated the property. “In two years, we’ve de-malled the property and completely rehabilitated the exterior of the building,” says Barton Schack, SRC’s asset manager for the facility. Work has begun on building out Thomasville’s space, and a fall opening of the store is targeted, according to Schack

The leasing agent for The Shoppes at IV is the Goldstein Group of Fair Lawn, NJ.