Prime Retail Space Now Available On The Asbury Park Boardwalk For Upcoming Summer Season

Retail business owners interested in being a part of Asbury Park's reawakening can now take advantage of special storefront rental deals on the boardwalk for the summer '05 season. The offer is being made by Asbury Partners, LLC, master developer of the Oceanfront Asbury 56-acre waterfront redevelopment plan.

"This year we are seeking to attract pioneer tenants for the 2005 summer season-those retailers who are looking for a great opportunity to test the market without a long-term commitment," said Larry Fishman, chief operating officer for Asbury Partners.

Ten stores are being marketed in the First and Fifth Avenue pavilions, both of which have undergone a temporary rehabilitation. The city's famed mile-long boardwalk has already undergone a multi-million dollar renovation from Ocean Grove to 6th Avenue.

"With a new boardwalk and rehabilitated pavilions, we have begun to market retail spaces to potential tenants, offering flexible lease terms and reasonable rents," said Fishman. "The response has been overwhelming, and we continue to welcome entrepreneurs to come and visit us to see for themselves the opportunity we have to offer."

The partnership between Asbury Partners and the City of Asbury Park has focused on making Asbury Park into a destination point for tourists, who will be prime customers for these seasonal retailers. Last year, thousands of visitors attended the summer's events, and the city reported a 15 percent increase in beach and boardwalk revenues.

"Our Entertainment Division has been enhanced during the past year, and a variety of entertainment on the beachfront will be provided every weekend of the summer," noted Fishman. "The lineup of concerts, shows and festivals of diverse nature at Convention Hall and Paramount Theater are being planned to attract families and adults to come and witness the progress of this historic city."

Oceanfront Asbury's long-term plan calls for 450,000 square feet of retail and entertainment space that will attract a mix of seasonal and year-round boutiques and lifestyle tenants, along with art and antique galleries. "By the summer season of 2006, we envision this will be a SOHO meets South Beach oceanfront destination," said Fishman. "This summer's rental opportunities will allow some retailers to get in on the ground floor, as the city begins to come into its own."

Ultimately, notes Fishman, Convention Hall and Paramount Theatre will undergo a complete historic renovation with upscale boutiques and food venues, to recapture its stature as the most notable historic venue in New Jersey. The Entertainment District in and around the Casino building will feature high-end restaurants and nightclubs, along with high tech entertainment venues that can attract families by day and adults at night. The Oceanfront Asbury plans also call for a hotel site located within the entertainment district along with an attached potential convention center.

Retail leasing opportunities on Asbury Park's boardwalk are being coordinated through Uri Kahanow who is available at (732) 774-1143, extension 14. He is offering immediate site tours for interested parties.