$40M Entertainment, Retail Complex On Tap

TRENTON-Performa Trenton LLC, an affiliate of the Memphis-based Performa Entertainment Real Estate Inc., is set to start work on the Foundry, a 130,000-sf, $40-million retail/entertainment complex. The complex will rise adjacent to this city’s Sovereign Bank Arena and the new River Line Light Rail system.

The project’s master plan also calls for more than 100 residential units, as well as a 30,000-sf open plaza for outdoor dining, entertainment and arts and crafts shows. A 700-car garage is also part of the plan.

Performa has hired the Goldstein Group, based in Glen Rock, as exclusive leasing agent for the property. “The Foundry is a concept that fits with all of the revitalization happening in the City of Trenton,” says Chuck Lanyard, principal and director of brokerage services for Goldstein. Florian Suserman is handling the assignment for Goldstein, according to Lanyard.

“This entertainment complex is going to be a huge draw,” Lanyard says. “And with Performa’s construction schedule to have the Foundry open by the end of 2007, we expect leasing to be very aggressive over the next several months.”

To date, more than a half-dozen tenants have committed to the project. They include Wet Willie’s Daiquiri Bar; Red Cheetah, a martini bar and dance club; Funny Bones Comedy Club; B.B. King’s Blues Café; Sal DeForte’s Ristorante; Cootie Browns, a southern specialty restaurant; and Toad’s Place, a live entertainment rock club.”

Performa Entertainment Real Estate Inc. specializes in urban entertainment projects. Among its efforts is the Beale Street district in its home town of Memphis.