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Anatomy of a Lease: Launch Entertainment in New Jersey

Photo credit: Marta Villa of CBRE

Launch Entertainment, a trampoline-based indoor family fun entertainment concept, signed an NNN lease for space in the rear portion of a neighborhood center. The unit formerly housed an H Mart but became available after the grocer relocated to a different spot in the front portion of the retail center. The interior of the unit appealed to Launch because it has high ceilings and advantageous column spacing. In addition, the retail center provides ample parking and boasts other nationally known high-traffic tenants such as Planet Fitness, Dunkin’ and Daiso. In late 2022, the retail center also opened another entertainment-oriented tenant called Golfzon, a golf simulation venue with one other location in Westbury, N.Y.

Tenant: Launch Entertainment
Location: Little Ferry, N.J.
Square Footage: 31,842 s.f.
Property Type: Grocery-Anchored Neighborhood Center
Owner: Bergen Ferry Associates
Initial Term: 10 Years

The one complication with this deal was that COVID-19 was still a major concern during the process, which impacted the timeline for leasing the space. Thankfully, the post-COVID interest in family entertainment concepts continues to surge, especially in the New Jersey suburbs, which are seeing an increasing number of tenants in this category, such as pickleball venues and kids play areas. Little Ferry is located about 15 miles away from New York City, and the space is about five miles away from the American Dream mall and the Westfield Garden State Plaza mall. It is also close to U.S. Route 46, a main east-west thoroughfare in the state.

Property Representation
CBRE
100 Campus Drive, Suite 109
Florham Park, NJ 07932
Marta Villa, SVP
(973) 437-2040
marta.villa@cbre.com

Tenant Representation
Equity Retail Brokers
531 W. Germantown Pike, Suite 103
Plymouth Meeting, PA 19462
Brian Wherty, Principal
(484) 417-2222
bwherty@equityretailbrokers.com

Picture of Linda Frabl

Linda Frabl

Frabl is the former editor and reporter of Crittenden’s Retail Tenants Report. She has several years of experience in publishing including stints as a freelance writer, managing editor, copy editor and as an editor-in-chief for two Los Angeles County-based lifestyle magazines. She has worked for Crittenden Research since 2018. She has a degree in English from the University of California, Santa Barbara, and resides in San Diego.

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