Building and Sites

Retail in Newark

Newark is ripe for retail development.In this city of 283,000 residents, more than 100,000 people converge on downtown each day. Office workers, residents and more than 60,000 college students and faculty combine to offer an exceptionally broad customer base. The new 18,000-seat Prudential Center arena also brings increased traffic downtown both day and night.

Although Newark enjoys a healthy mix of independent retailers and national chains, recent studies show that residents spend more than $575 million outside of the city on services that could be provided in Newark. Groceries, building materials and garden supplies, electronics and appliances, office supplies and even restaurants were among categories identified as having significant "retail leakage" because the options are too few in Newark. That gap presents enormous opportunity for new retail development.

Newark continues to offer incentives to attract quality retailers that will make its growing retail scene ever-more vibrant. The Newark Urban Enterprise Zone, for example, offers a discounted sales tax for items purchased in Newark – 3.5% compared to 7% – and provides tax credits, tax exemptions and other benefits for retailers locating in Newark.

Newark Retail Corridors

Newark has several distinct retail corridors, all of which have significant development opportunities:

North of Broad and Market

The geographic and emotional heart of the city with major retailers lining Broad Street

Halsey and Branford

A charming row of buildings that house restaurants, art galleries and shops

Washington Park

New retail coming soon to this area to join the historic Newark Museum and expanding Newark Public Library

University Heights

Home of six colleges and universities spurring a dynamic retail environment

Gateway Center and Prudential Center

Mini retail centers for the convenience of office workers to run daily errands

Ironbound

A vibrant immigrant neighborhood to the east of Newark Penn Station known for its Portuguese restaurants

Bloomfield Avenue and Springfield Avenue

Miles of retail and retail opportunities for Newark's residential neighborhoods