LEFRAK SIGNS 27,000 SQUARE FEET OF NEW RETAIL LEASES IN NEWPORT, NJ

Live-Work-Play Neighborhood Continues to Attract Local and National Retailers, Signs Seven New Leases

NEWPORT, N.J., May 14, 2024 /PRNewswire/ -- LeFrak Commercial and Newport Associates Development Company today announced the signing of eight new retail leases in Newport, NJ. Retail leasing has continued to boom in the live-work-play neighborhood, where nearly 27,000 square feet of new space has been signed since 2023. The new tenants include national boutique recreation studio PingPod, a regional Greek restaurant debuting its first location in Jersey City, Efi's Gyro, a local staple expanding within the area, Roast'd Coffee, local businesses opening their first outposts, Blue Anchor Bar and Kitchen, Stylebegin Barbershop and Pawsome pet spa, a New York restaurant opening its first Jersey City location, Dunhuang Food, and a new Mediterranean restaurant and bar with golf simulator suites, Solaz. These highly anticipated retailers bring exciting new options to the waterfront neighborhood's already diverse lifestyle and dining scene.

"Newport continues to be a prime destination for shopping, dining and entertainment in one of the nation's most successful masterplanned communities," said Ray Kawas, Director of Commercial Leasing for LeFrak. "We pride ourselves on bringing national, regional and local businesses into our retail spaces, as our true downtown experience wouldn't be the same without a great mix of both established and emerging concepts. We're thrilled that tenants like PingPod, Roast'd Coffee and Efi's Gyro recognize the value of establishing a footprint in this vibrant, thriving neighborhood."

Several of the retailers are open in the neighborhood, with PingPod and Roast'd Coffee proving highly popular among Newport residents. Dunhuang Food, a New York restaurant serving signature dishes inspired by Northwest China, has also attracted many visitors to its 2,981-square-foot location on the ground floor of The Beach residential building since opening this spring. Seafood restaurant Blue Anchor Bar and Kitchen, which signed a 2,210-square-foot lease at The Beach, is slated to open this summer, as is Greek restaurant Efi's Gyro, which signed a 2,746-sqaure-foot lease in Newport's forthcoming residential building debuting next month. Blue Anchor will feature indoor and outdoor space, including patio seating overlooking the Hudson River and New York skyline, and will offer fresh lobster rolls and other seasonal offerings.

The retail openings will continue throughout the fall, with the 1,075-square-foot Stylebegin Barbershop slated to open at 119 River Drive and pet spa Pawsome opening at 2,441-square-foot space on the ground floor of the upcoming residential building. Solaz, a new Mediterranean restaurant with a bar and three golf simulator suites, signed the largest retail lease, a 10,640-square-foot space at the Pacific residential building, on track to open in 2025.

"We are truly happy and honored that the Newport community have given us such a warm welcome," Romie Alcebar, owner of Roast'd Coffee. "We are especially thrilled that our Newport customers have been open to trying out our different coffee offerings and brewing methods and learning about our craft.  Our commitment to excellence in every coffee cup, and our philosophy of cultivating connections and fostering a community where quality and warmth converge, perfectly align to Newport's rich culture and socioeconomic demographic."

These retailers are a welcome addition to Newport, where residents, visitors and office tenants have long enjoyed local favorites like Komegashi Too, Fire & Oak and Los Cuernos. The seven lease-signings come as LeFrak continues to infuse Newport with programming that engages the community, including the wildly popular seasonal pickleball courts and annual Newport Skates pop-up, as well as the recently introduced partnership with Envoy, the sustainability-oriented electric vehicle-sharing platform that provides Newport residents with exclusive car-sharing benefits, including access to Envoy's dedicated Tesla fleet located on-site in Newport.

Spanning 600 acres along the Hudson River, Newport is a vibrant live-work-play community with 15 residential buildings and eight state-of-the-art office towers that provide eight million square feet of office space for major employers. In addition to stunning water and skyline views and easy access to Manhattan, Newport is sought for its diverse lifestyle amenities, including the sports and wellness offerings at Newport Swim & Fitness, shopping at Newport Centre Mall and The Newport River Market, recreation at Newport Green and year-round community programming.

For additional information on Newport, please visit https://www.newportnj.com/.

About LeFrak
LeFrak is a preeminent, family-owned property company committed to community development and long-term ownership. LeFrak affiliates own and manage an extensive portfolio of real property concentrated in the New York/New Jersey metropolitan area, as well as South Florida, Los Angeles and throughout the West Coast. Through its affiliated companies, LeFrak has developed and built the majority of its real estate portfolio and is one of the world's leading property firms. The firm is acclaimed around the globe for the quality of its projects and its properties, its financial strength and conservatism, its entrepreneurial business model and its commitment to long term ownership. Although primarily focused on the residential and office sectors, LeFrak affiliates also invest in numerous hospitality, retail assets, securities, private businesses and energy. www.lefrak.com

SOURCE Newport Associates Development Company