Food Story Natural Market, a full-service natural and organic market with four stores located in Brooklyn, has signed a lease for nearly 10,000 square feet of space at Journal Squared, the luxury rental complex developed by KRE Group and National Real Estate Advisors, LLC in Jersey City’s historic Journal Square neighborhood.
The new market will open in Spring 2022 in Journal Squared Tower 2, a 68-story building that last year delivered 704 rental residences to the thriving district — all of which leased up in just five months. With an entrance fronting Pavonia and Summit Avenue and an ultra convenient location above the Journal Square Path Station, the market will serve the community at large with an extensive offering of natural and organic products, including meats, fish, sushi, fresh produce, and hot and cold foods, all prepared on the premises. The store will also carry fresh flowers and plants.
“Food Story Natural Market has earned a solid reputation in Brooklyn for delivering a high-quality product and meeting the needs of neighborhood residents,” said Jonathan Kushner, president of KRE Group. “We’re delighted to bring them across the river to Jersey City and believe they will be a tremendous quality-of-life asset for our residents and all those who live and work in the area.”
Food Story currently has four stores in Brooklyn, with the most recent one opening last year in Williamsburg. Jersey City will be its first New Jersey outpost, according to owner Danny Young.
“We’re a boutique organic market that tries to carry whatever our customers need,” said Mr. Young. “We never really considered expanding to New Jersey, but when our broker brought us to Journal Square, we thought it was an outstanding location. It’s a thriving commercial and residential neighborhood and the Journal Squared building is very upscale. We believe our concept will be a great product and service for the area.”
Grid Real Estate’s Bobby Antonicello represented ownership on the lease signing, working alongside KRE Group’s Justin Gingeleskie.
“Over the past few years, we have seen an influx of Brooklyn based retailers looking to open in the Jersey City market. Not only in Downtown but in all neighborhoods of Jersey City,” Antonicello said. “In the past, these retailers would say we want a second location in Hoboken, but now they are looking for multiple locations in Jersey City and expanding on their already popular concept at each location.”
Journal Squared Tower 2 is the second and tallest building in the three-tower complex, which when completed, will total 1,840 rental residences and 36,000 square feet of retail and restaurant space. The project’s third and final building, a 60-story high-rise comprising 600 rental residences, broke ground in October, 2021. A new landscaped pedestrian plaza known as Magnolia Landing, which leads to the adjacent transit hub, opened in 2018 and has been a vibrant addition to the neighborhood, hosting farmers markets, seasonal activities and community events while providing much-needed public open space.
Residents also enjoy covered direct access to the Journal Square Transportation Center with rail service to lower and midtown Manhattan, Jersey City, Hoboken, and Newark. NJ TRANSIT and private buses also serve the neighborhood daily, offering residents convenient access to major employment and recreation centers on both sides of the Hudson River without having to depend on their cars.
For additional information on Journal Squared, visit www.journalsquared.com or call 201-210-5997. For more information on available retail space which ranges from 2,000 to 5,000 square feet, contact Bobby Antonicello of Grid Real Estate at bobby@gridrealestate.biz, or call 201-300-6489.
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About Kushner Real Estate Group
Founded in 1979 and headquartered in Jersey City, NJ, KRE Group is a full-service real estate investment and management company with properties in New York, New Jersey, and Pennsylvania. The KRE multi-family portfolio exceeds 9,000 existing apartments, with an additional 7,000 in various stages of approval and construction. The company also owns and manages more 6,000,000 square feet of office, warehouse, and retail space. For more information, visit the company’s website at www.thekregroup.com.
About National Real Estate Advisors
National Real Estate Advisors, LLC is an investment manager specializing in a build-to-core strategy, developing and managing large-scale, urban commercial and multifamily projects for its institutional client accounts. National constructs investment portfolios of modern property assets—apartment, office, mixed use, industrial (including data centers), and hotel—with design features, technological enhancements, and amenities that drive high tenant demand and can create value for investors. National is an independently operated subsidiary of the National Electrical Benefit Fund (“NEBF”), a substantial pension trust with a significant amount of assets that are managed by National on a discretionary basis. For more information, please visit www.natadvisors.com.
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