Retail establishments sign on to Jersey City’s development boom

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The Rivet, one of the newest luxury apartment developments in Jersey City, unveiled this week ground-floor leases with five retailers totaling 9,500 square feet, ROI-NJ reported. The Hampshire Companies, Claremont Companies and Morristown-based Circle Squared Alternative Investments are jointly developing the property at 23 University Place, which has 163 luxury rental apartments ranging from about $1,600 to $3,000 per month. The new retail tenants at the Rivet include a Five Guys restaurant, Carvel ice cream, a pharmacy, a nail salon and a health care center, as noted by NJBiz. On the other side of town, Jersey City’s Harborside District recently welcomed the opening of a new food hall called District Kitchen that will be home to 13 different vendors. The complex is owned by Jersey City-based developer Mack-Cali Realty, which recently sold off a nearly $500 million portfolio to focus on its Garden State holdings. Local real estate website JerseyDigs noted this week that a Sweetberry Bowls cafe has set up shop in Jersey City’s Newport Tower. The Real Deal reported in February on the rush of developers undertaking massive residential projects in Jersey City. [ROI-NJ]