REAL ESTATE

Study: Re-do will cement GSP’s standing as top center in New Jersey

BY Al Urbanski

Unibail Rodamco Westfield’s bold new plan for Garden State Plaza in Paramus should set it apart as the leading center in New Jersey, according to a report from a store traffic analytics firm.

In a comparison with the nearby Outlets at Bergen Town Center, Placer.ai found that GSP drew nearly 20% to 30% more people during heavy Friday and Saturday shopping periods, but did not hold that same dominance on weekdays, when shopping levels at the two venues drew nearly even.

Bergen Town Centers draws about 20% more visitors between the hours of 10 a.m. and 1 p.m. than GSP, and it draws a higher percentage of visitors from within a 10-mile radius.

Statistics such as these, maintained the Placer.ai report, led URW to undertake a densification plan at GSP that will include the addition of residential units, office space, more restaurants, a public park, and a hockey rink. The renovations are scheduled to be completed by 2022.

“The push to include fitness centers, residential areas, and office space is aimed at increasing dwell time, but will also push more regular, mid-week visits,” said the report.

The Outlets at Bergen Town Center, which began life in 1957 as Bergen Mall, undertook a renovation last year to replace aging infrastructure and make room for new tenants such as Burlington and Ruth’s Chris Steak House.

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