Somerset Shoppes Occupancy Reaches 97%

BOCA RATON, FL-Four new leases totaling 9,426 sf have been signed recently at Somerset Shoppes, a 188,000-sf shopping center in the city. The leases are valued at nearly $1.8 million combined. The deals raise the retail center’s occupancy level to 97%.

In one deal, Casual Male, a men’s clothing store, leased 3,700 sf for a five-year term. Alan Rosenberg of Commercial Property Realty Advisers represented Casual Male in the transaction.

In another deal, Verizon Wireless leased 3,000 sf for five years. Russ Bornstein of Grubb and Ellis represented Verizon.

In the third transaction, EB Games, which sells video games, signed a five-year, 1,450-sf lease. Dennis Kleir of RAM Commercial Group represented EB Games.

In the final deal, Jersey Mikes, a sandwich shop, leased 1,276 sf for five years. Scott Copeland of On Course Development represented Jersey Mikes.

In all the transactions, Craig and Randy Tulepan of Tulepan Management represented the property owner, The Roberts Organization of New York.

The average rental rate at Somerset Shoppes is $30 per sf, plus operating expenses. The shopping center is anchored by Loehman’s, T.J. Maxx and Michael’s.