PLAINSBORO, N.J., Aug. 8, 2016 /PRNewswire/ -- Onyx Equities, LLC announces the signing of a 43,000 SF supermarket at Plainsboro Plaza, which will operate as The Food Emporium. The Food Emporium is part of the Key Food cooperative and will provide a high-end grocery shopping experience with a focus on prepared foods, fresh produce, and high-quality butcher, seafood, and bakery departments. The supermarket is estimated to open Summer of 2017. This will be the grocery cooperative's 214th location and second with Onyx, including their soon-to-open location at 375 Tompkins Avenue in Staten Island, NY. Onyx purchased the 218,000-square-foot Plainsboro shopping center in 2013 and has since completed a $4 million renovation.
The shopping center, located at the intersection of Schalks Crossing and Scudders Mill Roads, offers retailers high day-time population and excellent demographics. Since taking ownership, 80,000 square feet of new tenant leases have been signed including The Food Emporium, Indus American Bank, Lightbridge Academy, and Planet Fitness. The Center offers a great mix of restaurants, retail stores and health and personal services.
Onyx applied its signature capital improvement program to the center which aimed at increasing storefront visibility and improving traffic flow. Renovations included modern facades with larger signs, new landscaping, a new 58 foot landmark tower, new directional signage, a new pylon sign at the intersection of Schalks Crossing Rd. & Scudders Mill Rd., three new pylons at the Plaza's entrances, and a reconfiguration of the landscaping and parking field.
"We have made every effort to maximize tenant and shopper experience," said Matthew Flath, Onyx's Vice President of Retail Leasing. "We are especially thrilled about the new anchor tenant, The Food Emporium. Between this and our capital investments, we have reinfused vitality into Plainsboro Plaza and look forward to announcing more store openings in the near future."
Plainsboro Mayor Peter Cantu added, "We are very pleased that that The Food Emporium has agreed to come to Plainsboro. The community and the Township Committee have recognized the need for a high-end supermarket located in the Village Center at the Plainsboro Plaza. Bringing in a grocer that understands the needs of our residents is something we have strived for. We are committed to assisting The Food Emporium making their new venture a success."
Driving Onyx Equities' success is its custom-made technology platform that allows on-site and regional management teams to increase operational efficiency, tenant satisfaction and long-term value throughout its portfolio.
About Onyx Equities, LLC
Headquartered in Woodbridge, New Jersey, Onyx Equities, LLC is a leading private real estate investment, management and development firm. Since its founding in 2004, Onyx has acquired more than $2 billion worth of real estate assets throughout New Jersey, New York, Pennsylvania and Connecticut. Since 2008, the firm has owned, managed or served as the appointed Receiver for more than 57 million square feet of office, retail, industrial, and self-storage properties. The company's rapidly growing Receivership and REO portfolio has recently expanded into 10 states along the east coast. For more information on Onyx Equities, contact the firm at 732-362-8800, or visit www.onyxequities.com.
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SOURCE Onyx Equities, LLC