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Whole Foods Market Signs Lease For Space In The Soon-to-Be-Restored Historic Hahne’s Building In Downtown Newark

Stocks in this article: WFM

The Hahne’s redevelopment project was made possible by a $7.5 million investment by Prudential as part of its strategy to create a vibrant downtown in Newark. “Hahne’s is an iconic structure that has resisted development for over a generation. The ideal team is now in place that can succeed not only in renovating the building, but has also attracted a best in class brand like Whole Foods Market. The high quality products and services Whole Foods Market is known for will be a welcome addition in Newark,” said Lata Reddy, vice president, Corporate Social Responsibility at Prudential.

Whole Foods Market’s stores have supported a variety of nonprofits and community organizations in Newark for several years, and the company is currently expanding its relationships with local producers and suppliers, schools and government officials. Through its Whole Kids Foundation™, the company’s nonprofit dedicated to improving childhood nutrition, Newark schools have already received five community gardens and one salad bar grant.

The lease with Whole Foods Market was brokered by the retail-only real estate firm, Shopping Center Group (SCG). Approximately 50,000 square-feet of additional commercial space at 609 Broad Street are available for lease. For more information about leasing opportunities in the Hahne’s building, please call 973-494-5832.

About Whole Foods Market ®

Founded in 1980 in Austin, Texas, Whole Foods Market ( wholefoodsmarket.com)(NASDAQ:WFM), is the leading natural and organic food retailer. As America’s first national certified organic grocer, Whole Foods Market was named “America’s Healthiest Grocery Store” by Health magazine. The company's motto, “Whole Foods, Whole People, Whole Planet”™ captures its mission to ensure customer satisfaction and health, Team Member excellence and happiness, enhanced shareholder value, community support and environmental improvement. Thanks to the company’s more than 78,000 Team Members, Whole Foods Market has been ranked as one of the “100 Best Companies to Work For” in America by FORTUNE magazine for 16 consecutive years. In fiscal year 2012, the company had sales of $11.7 billion and currently has more than 360 stores in the United States, Canada and the United Kingdom.

About L+M Development Partners

Since 1984, L+M Development Partners has been an innovator in developing quality affordable, mixed-income and market rate housing, while improving the neighborhoods in which it works. A full-service firm, L+M works from conception to completion, handling development, investment, construction and management with creativity that leads the industry. L+M is responsible for more than $2.5 billion in development, investment and construction and has created more than 15,000 high-quality units in the tri-state area alone. With Hahne’s, L+M continues its investments in Essex County, New Jersey: 50 & 55 South Essex, currently under construction in the city of Orange’s transit village, are projected to be completed in early 2014 (for more information, see www.50-55southessex.com) and also include 10,000 square feet of available retail space (call 646-688-5005 for more information). The firm is also expanding its geographic footprint to the Gulf region and West coast. Community leaders, government officials and investment organizations turn to L+M because of its consistent track record of excellence.

L+M is a double bottom line company, where its success is measured not only in financial returns but also by the positive impact it makes. L+M takes pride in its long-standing dedication to the communities it serves, demonstrated through an annual scholarship fund, job training programs and substantial support for local nonprofits. L+M brings a superior level of commitment to its investments in developments, and equally important, to its investment in people. Additional information can be found at www.lmdevpartners.com.

About Hanini Group

Hanini Group takes great pride in its integral involvement in the renaissance of Newark’s downtown, and the development projects it has carried out successfully in the past nine years. Since 2004, Hanini Group has completed restoration and rehabilitation projects valuing over $50 million and delivered high-caliber loft space to Newark’s residential market. Hanini Group’s involvement in the design and construction of select retail space, as well as the creation of unique and modern residential units has contributed significantly to the outlook for the future of Newark’s real estate market, both commercially and residentially. Delivering a unique blend of vision and practicality, Hanini Group brings a fresh perspective to Newark’s emerging development, while staying ahead of the curve by using the latest green building practices. Committed to Newark’s future, Hanini Group maintains a dedication to producing high‐end, cost-effective buildings in Newark while also preserving the city’s historical integrity, a defining part of Hanini Group’s mission.

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