December 14, 2021
Diversified Negotiates Two Retail Leases to Bring Summit Mixed-Use Building to Full Occupancy
Summit, N.J. (December 14, 2021) – Diversified Properties announces it has signed two retail leases with Envy Lash and The Shape of You at The Promenade at Summit located 545 Morris Ave in Summit, N.J.
Standing at 35,000 square feet and three stories, The Promenade at Summit is a well-located mixed-use building constructed by Diversified Properties in 2010. The mixed-use building includes a now fully occupied 16,000-square-foot retail center with boutique spaces ranging from 1,230 -1,604 square feet per unit, as well as 22 spacious luxury apartments. The property also boasts on-site management with ample storage and underground parking, as well as prominent architecture, providing immense curb appeal to commercial tenants and residents alike. In addition, The Promenade at Summit’s convenient location offers quick access to some of the area’s major roadways, including Route 24 and the Garden State Parkway.
The leases with Envy Lash and The Shape of You bring the building’s commercial occupancy to 100 percent. Envy Lash and The Shape of You will be joining an already impressive roster of diverse tenants such as Dunkin Donuts, Kumon, The Little Gym and ConnectOne Bank that currently call the property home. The Promenade at Summit’s tenant roster, coupled with the property’s exceptional residential opportunities, has earned The Promenade at Summit a reputation as one of the area’s most in-demand places to both shop and live and highlights the continued success of Diversified Properties’ investment strategy for the property.
“In bringing The Promenade at Summit to full retail capacity, our team has succeeded yet again in showcasing our ability to create value from strategic real estate investment and hands-on asset management,” said Nicholas Minoia, Founder and Managing Partner of Diversified Properties. “We welcome these new tenants to The Promenade at Summit and are confident that both of them will play a direct role in the property’s continued success.”