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Chains Make a Return to Newark After Long Absence

by admin
April 26, 2024
in Business
0
Chains Make a Return to Newark After Long Absence
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Bamberger’s was once a favored shopping experience for Newark residents. The 500,000-square-foot building was eight stories high and included ten departments and a restaurant. Sitting on the corner of Market and Halsey Streets, the department store was a staple in the downtown area. But over the years, the allure of Bamberger’s shifted. And by 1992 when it closed, it had been renamed Macy’s and was a one-level discount store for the chain. 

Bamberger’s decline and ultimate closing was a reflection of Downtown Newark’s demise. A series of events—urban flight, the 1967 rebellion, and the growth of suburban malls—all made shopping in Downtown Newark less desirable. And by 1992, all three department stores that were once anchors for the downtown area—Bamberger’s, Hahne & Company, and Kresge’s—had closed, leaving Downtown Newark filled with big empty vacant spaces.

The groundbreaking of Burlington, a national chain offering  discounted brand name clothes and home decor, is set to open in May and signals a long-awaited revival. Burlington’s arrival has been a long-time coming. Various news sources reported the off-price retailer was coming to Downtown Newark as far back as 2017. It was not until 2022 that the Fort Lee-based developers began laying the foundation for the chain to have a presence on Broad Street.

Grand Opening, Grand Closing
In 2000, as talk of change in Newark began to rumble, a new type of chain came forward to support the beginnings of its revival. With mellow music, coffee and tables that were available for either a workday break, a business meeting or in some cases, a workspace, Starbucks became a meeting place on Broad Street.

For eight years, Starbucks was a staple on Broad Street until corporate leadership decided to shut down the Broad Street branch in 2008 as part of a mass closing of 600 retail stores. At the same time, other retailers such as Old Navy and FedEx/Kinko’s also left the area. The prospect of large retailers returning and remaining in the area appeared to be dismal again.

Fast Forward to 2024 
Downtown Newark’s revival is on the upswing. The population in Newark has grown by 12.4 percent since 2010 with its population at more than 300,000. In Downtown Newark alone, there are over 75 residential buildings present, renting 5,526 apartments, according to the Downtown Newark Rental Market Report published by Newark Downtown District. An influx of 200,000 commuters enter the downtown area daily. Furthermore, universities account for an additional 60,000 students in the area. The increased residential population coupled with daily commuters has corporate chains rethinking the possibilities in Downtown Newark.

Starbucks returned to Broad Street in Newark in 2015, and has now opened four other locations throughout town including Rutgers-Newark, and the Gateway Center at Penn Station.

The Hahne & Company building reopened in 2017. While it is no longer a department store, it is home to a mix of residential dwellings and offers 75,000 square feet of retail space on Broad Street. On the street level of the building is its anchor, the grocery chain, Whole Foods Market. The opening of Whole Foods Market in a 29,000 square foot space helped to shrink Newark’s food desert by offering healthier food options such as fresh fruits and vegetables.

While the days of multiple department stores being the anchor of downtown Newark are long gone, the sustainability of Whole Foods to stay for seven years, the buzz of Burlington  breaking ground, and the multiple Starbucks locations popping up is a strong sign of Newark’s major retail reemergence. —Femi Lewis

The Bamberger building at Market, Halsey, and Washington Streets in the early 1900s.
Broad Street Starbucks
Hahne & Company Building with Whole Foods Market
Tags: BembergersBurlingtonDowntown NewarkHahne & CompanyKresge'sMacy'sNewark Downtown DistrictSpring 2024StarbucksWhole Foods Market

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