The Springfield Avenue Marketplace in Newark, slated to be built on a vacant plot in the city’s downtown, is likely to include a Wal-Mart location, the Wall Street Journal reported. Sources familiar with the plan said that Wal-Mart would erect a store with a grocery portion at the site.
Chicago’s Tucker Development Corp. is behind the development of the complex and has not signed a lease with Wal-Mart. However, sources told the Journal that the deal is now in its final stages. A Tucker spokesperson declined comment. A Wal-Mart spokesperson told the Journal that the retailer has no “announced projects in the city,” but did say that the plan for the marketplace site would suit the needs of a store location.
The complex — valued at $100 million — is slated to include 164 market-rate apartments and 150,000 square feet of retail.
The potential for a Wal-Mart to come to Newark has sparked opposition. Those against its presence say the store does not pay its employees fairly and will increase area traffic. However, the store spokesperson told the Journal that the majority of the Wal-Mart workforce in New Jersey works full time and earn on average $13 hourly. [WSJ] —Zachary Kussin