FIVE GUYS AND PRONTO GOURMET SIGN LEASES AT NEW HARRISON STATION MIXED-USE DEVELOPMENT

FIVE GUYS AND PRONTO GOURMET SIGN LEASES AT NEW HARRISON STATION MIXED-USE DEVELOPMENT

National Hamburger Chain and Gourmet Market to Open January 2012

HARRISON, NJ – November 11, 2011 – (RealEstateRama) — Ironstate Development and The Pegasus Group have leased a combined 5,500 square feet of retail space at Harrison Station to Five Guys Burgers & Fries and Pronto Gourmet.

Five Guys will occupy a 2,500 square-foot restaurant space at the new mixed-use development in Harrison, NJ where it will serve hand-formed hamburgers, hot dogs and grilled sandwiches. Pronto Gourmet will set up shop in a 3,000 square-foot storefront, offering high-end deli meats and cheeses, grocery staples, freshly-made sandwiches and a wide variety of prepared foods. Both retailers are scheduled to open in January, 2012.

Michelle Wilk of M. Wilk Consulting, LLC represented the owner.

“We’re delighted to announce the signing of our first two retail tenants at Harrison Station,” said Michael Barry, President of Ironstate Holdings, LLC.

“The integration of street-level retail with residential above is critical to creating a livable, all-encompassing neighborhood that encourages pedestrian activity and stimulates street life. We’re carefully selecting the right retail mix to accomplish that goal while enhancing the quality of life for Harrison Station residents and the community at large.”

Ironstate Development and The Pegasus Group are jointly developing Harrison Station on a 27-acre site adjacent to the Harrison PATH Station. When completed, the community will feature 2,600 luxury residences, 80,000 square feet of retail space and a hotel with a retail concourse.

The first phase of 275 rental residences and 12,814 square feet of retail space opened in mid-September. More than 100 homes have been leased since the grand opening, according to The Marketing Directors, Inc., the community’s exclusive marketing and leasing firm. Monthly rents currently range from the $1,200’s for studios, from the $1,500’s for one-bedroom homes and from the $2,000’s for two-bedroom residences. Immediate occupancy is available. Amenities include a two-story attended lobby, state-of-the-art fitness center, residents’ lounge with large-screen TVs and ping pong table, landscaped courtyard with outdoor pool, a beach volleyball court and a parking garage.

The development of Harrison Station is part of a larger plan to reenergize the former industrial town. A 25,000-seat stadium for the New York Red Bulls professional soccer team opened last year, while a four-story parking deck available, in part, for Harrison Station residents, has been completed.

For more information about Harrison Station and to make an appointment to tour the three furnished model homes, please call (973) 484-3300, or visit www.HarrisonSTN.com.

The community’s onsite Leasing Center is located at 300 Somerset Street, Harrison, NJ, 07029

For more information on leasing retail space at the development, contact Michele Wilk at 732-528-8509.

ABOUT IRONSTATE DEVELOPMENT COMPANY

Ironstate Development is a privately held real estate development company based in Hoboken, New Jersey. The Company engages in the development of large-scale residential and hotel projects in the Northeast United States. The company currently owns and manages over 6000 residential units and currently has approximately $1 billion in the development pipeline. www.ironstatedevelopment.net

ABOUT THE PEGASUS GROUP

Founded in 1997 and based in Hoboken, New Jersey, The Pegasus Group is an owner and developer of multi-tenant real estate properties. The Company maintains the philosophy and operating style rooted firmly in adaptive reuse and urban revitalization. The Company’s principals possess more than 60 years of industry experience. www.thepegasusgroup.com

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