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MOUNTAIN VIEW, Calif. – Feb. 14th, 2012 – Symantec Corp. (Nasdaq: SYMC) these days announced the upcoming free up of Symantec manage Compliance Suite eleven, the latest edition of its commercial enterprise-class IT governance, possibility and compliance (GRC) answer. it is going to characteristic the brand new control Compliance Suite risk supervisor module which permits security leaders to enhanced remember and talk risks to the business environment from their IT infrastructure. risk supervisor interprets technical considerations into dangers valuable to business strategies, delivers custom-made views of IT risk for distinct stakeholders, and helps prioritize remediation efforts in line with company criticality as opposed to technical severity.
click on to Tweet: Symantec helps CISOs talk language of enterprise: http://bit.ly/wyg5eV
security threats and chance administration have become a part of boardroom-stage discussions. A January 2012 analyze conducted by Forrester Consulting on behalf of Symantec discovered:
70 p.c of safety decision makers mentioned improved executive recognition of IT safety as an immediate influence of recent high profile assaults and facts breaches
When requested what alterations to their IT chance application would have essentially the most tremendous affect on their enterprise counterpart relationships, 47percent indicated the more desirable potential to communicate the value of security and chance administration in company phrases
greater than forty percent known as out the want for extra well timed and correct information or extra common reporting of possibility and compliance
Symantec handle Compliance Suite risk manager module will allow protection leaders to create a targeted view of IT risk because it relates to a particular business system, group or characteristic. as an alternative of sending business unit homeowners targeted reviews on awesome configuration or vulnerability considerations, they can be able to illustrate how these issues are inflicting unacceptably high risk to the business’s online e-commerce site, transaction processing equipment or different key company method. Translating technical IT considerations into company possibility phrases that will also be greater with ease understood helps pressure better consciousness, accountability and action.
The answer will facilitate extra valuable communique round IT chance by using permitting protection leaders to customize dashboards with audience-selected chance metrics.
govt-level dashboards can illustrate excessive-degree metrics, similar to possibility by using enterprise unit, or chance rankings for mission-vital company tactics.
safety operations dashboards can drill down to examine technical details at the back of these chance rankings.
Dashboards for IT operations can outline targeted remediation plans and video display possibility discount over time as scheduled remediation activities take area.
These distinct dashboard views provide business stakeholders with the counsel they deserve to make more suitable choices around IT risk, whereas ensuring that security and IT operations teams are extra closely aligned on what needs to be achieved to reduce essentially the most essential risks to the company.
Symantec handle Compliance Suite will function a versatile, scalable facts framework which is critical to offering a rich data-driven view to diverse audiences. This framework greatly simplifies the method of bringing collectively and “normalizing” information from distinct distinctive sources, so that it can also be seen in a common format. The suite brings together computerized, technical evaluation tips with manual facts inputs and procedural evaluation tips. It combines all of this with extra information from other Symantec and non-Symantec options, providing a rich set of information accessible for better analysis and determination making. The influence is a truly multi-dimensional view of the IT dangers linked to any given company manner, neighborhood or characteristic.
“The skill to circulate past the usual role of technical professional and turn into a company possibility guide is vital to the success of these days’s IT safety leaders,”stated artwork Gilliland, senior vice president, assistance safety neighborhood, Symantec. “Symantec’s next technology IT GRC solution will empower suggestions protection leaders to pressure real alternate and accountability with their company counterparts at a time when protection threats are becoming boardroom degree discussions.”
“if you happen to are referred to as before senior executives of the company to focus on IT dangers, you more desirable have sound metrics in the back of you. Gathering this suggestions and effortlessly speaking it to company stakeholders is one of the largest challenges we face nowadays. With handle Compliance Suite chance supervisor, Symantec is featuring a powerful device to assist tackle this challenge,” spoke of Tim Stanley, director of suggestions and infrastructure safety, Waste management, Inc.
“we're seeing a turning out to be variety of CISOs being asked to give a company-centric perspective of IT possibility that executives and line-of-enterprise managers can take into account and act upon. meeting this need requires a robust center of attention on the intersection of chance management and IT-based mostly business approaches,” pointed out Jon Oltsik, senior important analyst, enterprise approach group.
Symantec control Compliance Suite 11 is anticipated to be attainable by using early summer 2012.
Press package weblog: CISOs: make the most of Your Time within the Boardroom White Paper: Strengthening Ties Between IT and the business Infographic: changing function of the CISO SlideShare: Symantec control Compliance Suite eleven Podcast: Symantec manage Compliance Suite 11 CCS chance supervisor information Sheet manage Compliance Suite Brochure manage Compliance Suite Video
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Symantec is a world leader in proposing protection, storage and programs management solutions to help patrons and groups cozy and control their suggestions-pushed world. Our utility and services protect towards more risks at greater points, greater fully and correctly, enabling self assurance anyplace tips is used or kept. greater assistance is attainable at www.symantec.com.
Symantec introduced the subsequent version of Symantec manage Compliance Suite, the business-type IT governance, possibility and compliance solution.
The manage Compliance Suite (CCS) is a protection assessment answer that provides clients with the means to run security and compliance assessments on their environment.
It supports environments corresponding to public, deepest, and physical throughout servers, endpoints, and demanding community infrastructure.
Symantec control Compliance Suite delivers new aspects to provide IT and security Operations teams the ability to implement agile enterprise strategies whereas ultimate in compliance with laws.
As more and more groups adopt agile practices to sustain with the quick pace of innovation and alter, agile compliance is a critical part of the development technique.
using Symantec CCS, organizations can record on their compliance posture towards trade most effective practices and key mandates like payment Card industry, overseas company for Standardization, country wide Institute of specifications and expertise, and a lot of others.
“The newest version of Symantec CCS allows firms in all places the world to change the online game from compliance as a value to compliance as a differentiator and an enabler to an Agile commercial enterprise,” noted Vishal Gupta, VP of management and Compliance, Symantec.
“imaginitive capabilities like scripting and Command Line Interface automation will permit our clients and companions to open and lengthen the CCS platform both for his or her protection and operational wants.”
MOUNTAIN VIEW, Calif., Jul 20, 2016 (enterprise WIRE) -- Symantec Corp. SYMC, +1.32% the world leader in cybersecurity, these days announced the subsequent version of Symantec control Compliance Suite, the commercial enterprise-type IT governance, possibility and compliance answer. Symantec control Compliance Suite delivers new points to provide IT and protection Operations groups the capacity to put in force agile company tactics whereas ultimate in compliance with rules. As further and further organizations adopt agile practices to sustain with the fast tempo of innovation and change, agile compliance is a essential a part of the building method.
Symantec manage Compliance Suite (CCS) is a compliance and protection evaluation answer that gives clients with the skill to run protection and compliance assessments on their ambiance (public, inner most, and actual) throughout servers, endpoints, and demanding network infrastructure. the usage of Symantec CCS, groups can file on their compliance posture towards business most useful practices and key mandates like charge Card industry, overseas organization for Standardization, country wide Institute of necessities and know-how, and a lot of others.
“The newest version of Symantec CCS makes it possible for organizations in every single place the area to change the game from compliance as a cost to compliance as a differentiator and an enabler to an Agile enterprise,” said Vishal Gupta, VP of administration and Compliance, Symantec. “creative capabilities like scripting and Command Line Interface automation will allow our valued clientele and companions to open and prolong the CCS platform both for their security and operational needs.”
With the brand new Symantec manage Compliance Suite, groups can undertake agile compliance methodologies into their everyday operations to enhance self assurance in their provisioning and remediation method. Key new capabilities include:
Symantec associate Response
Symantec industry partners share the merits of CCS:
“With the introduction of customized scripting in Symantec CCS, valued clientele that have already invested in the personnel and procedure to create and preserve a robust script library for information assortment can now leverage that investment without delay in CCS. Conversely, purchasers who don't have the in-house knowledge to advance and maintain records assortment scripts or are nevertheless the use of guide approaches for statistics assortment can nonetheless utilize the developed-in technical verify builder that has at all times been a core function of the CCS Suite. Realistically, most corporations will doubtless opt for a hybrid strategy using each scripts and CCS developed technical tests to varying levels, but the key is that Symantec has now given the customer the choice of how they are looking to assemble their configuration and compliance facts.”-Jason Eberhardt, vp, Conventus
“we are excited about this colossal step forward within the Symantec handle Compliance Suite, which is poised to allow each companions and valued clientele to bring extra value, enhanced provider and a superior degree of customization. At Novacoast, we're looking forward to this unencumber and agree with it's going to deliver a far better, greater cohesive adventure for CCS users.”-Adam grey, CTO, Novacoast Inc.
Symantec control Compliance Suite is now purchasable worldwide. more information may also be seen here.
Symantec employer SYMC, +1.32% is the international leader in cybersecurity. operating probably the most world’s largest cyber intelligence networks, we see extra threats and give protection to extra purchasers from the next generation of attacks. We help businesses, governments and people secure their most critical information anywhere it lives.
View source edition on businesswire.com: http://www.businesswire.com/news/home/20160720005026/en/
supply: Symantec enterprise
Symantec CorporationMirka Janus, firstname.lastname@example.org
Copyright company Wire 2016
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India’s IT threat landscape has changed dramatically over the past few years. While yesterday’s attacks were meant simply to make headlines, today’s attacks have become more sophisticated and stealthy, targeting specific organizations to reap financial gain.
Although antivirus, antispyware and other signature-based protection measures were sufficient to protect organizations in the past, small businesses now need proactive endpoint security measures that can protect against zero-day attacks and even unknown threats.
They also need to take a structured approach to endpoint security, implementing a comprehensive solution that not only protects from threats on all levels but also provides interoperability, seamless implementation and centralized management.
Value of informationAccording to Vishal Dhupar, MD, Symantec India: “Today for enterprises across the world, and that includes India, information has quickly become the most valuable asset. Unfortunately, it has also become the most vulnerable asset.”
According to an industry reference, in India, IPR and business information leakage contributes 32 per cent and 68 per cent respectively. This is a clear indication that data loss threats are eminent for Indian enterprises.
Also it is worth noting that India is a major outsourcing hub for the world. It means that some of the most sensitive information of the IT, healthcare, insurance and manufacturing segments from across the world resides with Indian enterprises. Against this backdrop, data loss prevention has acquired a huge prominence due the credibility, compliance and competition factors.
Dhupar feels that given these dynamics it is not surprising that security strategies have evolved within organizations to become more strategic, more expansive and more complex.
Security is no longer just an IT function, but touches every part of the business – from the CEO and board members responsible for a company’s reputation; to HR, finance and legal that need to manage compliance; to business leaders that drive performance. According to Dhupar, Symantec foresees the following trends for the 2009:
Explosion of malware variants
Recent attacks include new strains of malware which consist of millions of distinct threats that propagate as a single, core piece of malware. This creates an unlimited number of unique malware instances.
The sensor data obtained via the Symantec Global Intelligence Network also shows we have reached an inflection point. There are now more malicious programs created than legitimate programs. These new and emerging threats have given rise to the need for new, complementary detection methods such as reputation-based security approaches.
Advanced web threats
As the number of available web services increases and as browsers continue to converge on a uniform interpretation standard for scripting languages, Symantec expects the number of new web-based threats to continue to increase.
The global economic crisis will be the basis of many new attacks. This will include phishing attacks (eg, whose fictitious premise might surround the closing of a given bank).
Similarly, attacks may also exploit other types of fraudulent activity around the economic issues including e-mails that promise the ability to easily get a mortgage or refinance.
Expect to see an increase in scams that prey on people who have had homes foreclosed, an increase in work from home scams targeting the unemployed, and an increase in spam that mimics job sites.
In 2008, Symantec has noticed an uptake in activity in threats related to social networking sites. These threats have involved phishing for username accounts and/or using social context as a way to increase the “success rate” of an online threat.
Spammers in select EMEA regions have been heavily promoting social networking sites; one instance reached more than two million Symantec customers. These threats will become increasingly important for enterprise IT organizations since the new entering workforce often accesses these tools using corporate resources.
Spam levels will rise
Symantec saw a 65 per cent drop in spam between the 24 hours prior to the McColo shutdown and 24 hours after. We expect to see spam levels rise back to approximately 75 to 80 per cent.
Command-and-control systems will be re-established and more importantly, this event may drive spammers toward the continued use of peer-to-peer botnets, which are generally more resilient.
In this turbulent economic climate there may be other hosting companies around the world who might be willing to facilitate this sort of spam activity.
Virtual machine security
Virtualization technology will be incorporated into security solutions to provide an environment isolated and protected from the chaos of a general purpose operating system environment.
This technology will provide a safe environment for sensitive transactions such as banking and protect critical infrastructure such as the security components that protect the general purpose operating environment.
Protection for the Indian user
Dhupar believes that Symantec’s mission is to enable customers to have confidence in their connected experiences – infrastructure, information and interactions.
“Security is a topic that is always top of mind for businesses and is no longer an issue that lends itself to one-size-fits all solutions,” he said.
“Finding smart, cost-effective ways to ensure that corporate data is kept secure, and applications designed to do business with partners and customers are effective, private and safe are key to many company’s success. As such, companies often turn to specialist security partners for assistance to find the right way to address issues”.
Dhupar said that Symantec constantly strives to address the security market through new age offerings. Take for example Symantec’s Endpoint Protection 11.0 which contains proactive technologies that protect customers from both today’s threats and tomorrow’s emerging threats.
He claims it “resets the bar” for endpoint security, reducing overhead, time and costs so that customers can efficiently manage security and gain confidence that their corporate assets and business are protected.
This solution reduces administrative costs associated with managing multiple endpoint security products and makes it easier for businesses to adopt a more effective multi-layered security solution and extends the power of antivirus to address today’s evolving threat landscape, Dhupar said.
In addition, the most advanced DLP offerings are available as integrated solutions that combine both endpoint and network-based software to protect confidential data wherever it is stored or used.
These solutions leverage a common foundation with the same policy management, detection, incident response workflow, and reporting capabilities across network, storage, and endpoint systems, said Dhupar.
This unified approach to enforcement enables the organization to write a policy once and automatically enforce it throughout the enterprise. In this regard, Symantec recently announced Symantec Data Loss Prevention, version 9.0, providing organizations with increased ability to discover, monitor and protect confidential information wherever it is stored or used.
Symantec provides companies with comprehensive data loss prevention (DLP) coverage across endpoint, network and storage systems through a single, unified interface to protect structured and unstructured data.
In addition, Symantec’s Control Compliance Suite (CCS) 9.0 is a group of integrated products that helps users reduce the cost of managing compliance through process automation.
CCS provides a comprehensive view of risk and compliance posture with a combination of point-in-time controls assessment and real-time monitoring of risks and threats and offers an end-to-end coverage of the IT compliance lifecycle.
“For Symantec, the number one priority is to focus on the top end of the pyramid, with a lot of touch points from Symantec to basically endorse the value proposition that we bring on the table,” Dhupar said.
“This is Symantec’s current strategy and will continue to be its strategy for sometime. Its second strategy is to evolve newer and newer mechanisms of selling, have more channels and different motives of selling those to these markets like SaaS and cloud computing and technologies like that.”
Dhupar is of the opinion that for an organisation’s long-term success it is important to ensure customer loyalty by providing innovative next generation technologies, architectures and standards, while providing operational direction to R&D and engineering services.
Maintaining this balance is the real challenge that R&D organisations, CTOs and CIOs are facing. At Symantec’s R&D centres, it constantly endeavours to focus on upcoming technologies and continuously innovate, keeping in mind increased benefits for enterprises and end users
HDFC, Wipro, TVS Motors and ICICI are amongst some of the Symantec’s customers in India.
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IT security strategies: now more expansive and complex India’s IT threat landscape has changed dramatically over the past few years. While yesterday’s attacks were meant simply to make […]
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MILAN, April 12 (Reuters) - Italian payments group Nexi has priced what is set to be one of Europe's biggest initial public offerings this year at 9 euros per share, valuing the group's equity at 5.7 billion euros ($6.4 billion).
The price, which confirmed what sources told Reuters on Thursday, was at the bottom of a price range that had narrowed to between 9.0 euros and 9.5 euros.
Nexi said in a statement on Friday the deal valued the company at 7.3 billion euros including debt, the equivalent of 17.2 times its core earnings. That is roughly in line with average industry valuations, according to one analyst's report.
It plans to float 35.6 percent of the company on the market, rising to 40.9 percent if an overallotment option is exercised.
Nexi, which runs electronic payments for credit card operator CartaSi, was taken over by private equity funds Bain Capital, Advent International and Clessidra at the end of 2015.
The fast-growing payments business faces competition from newcomers tapping technologies for alternative payment methods. In Italy, only 14 percent of purchases are cashless compared with more than half in the Netherlands, according to data from research house Ambrosetti.
The IPO will raise total proceeds of about 2 billion euros before the overallotment, including 684 million euros in fresh capital which is to be used to cut and refinance Nexi's debt.
The offer drew 5.4 billion euros in demand from more than 340 investors across the world, Nexi said.
Nexi shares are due to start trading in Milan on Tuesday.
BofA Merrill Lynch, Banca IMI, Credit Suisse, Goldman Sachs and Mediobanca acted as joint global coordinators and bookrunners in the deal.
($1 = 0.8864 euros) (Reporting by Stephen Jewkes, editing by Valentina Za and Mark Bendeich)
OLD BRIDGE, N.J., Nov. 12, 2014 /PRNewswire/ -- An improved picture in both 'big-box' and smaller store spaces combined to push the retail vacancy rate along central New Jersey's major shopping corridors to a six-year low of 7.6% from 9.8% in 2013, according to the latest study by R.J. Brunelli & Co., LLC. Looking back over the past 10 years, the 2014 figure compared with the high of 10.5% in 2011 and low of 3.4% in 2006.
In all, the Old Bridge-based retail real estate brokerage's 25th annual study of the central New Jersey market found 2.33 million square feet of vacancies in the 30.94 million square feet of space reviewed along State Highways 1, 9, 18 and 35 in Mercer, Middlesex and Monmouth counties, and a small section of Ocean County. The region's most heavily retailed road, Route 35, experienced the steepest decline in vacancies, followed by Routes 9 and 1, while Route 18 showed a slight increase.
The study found availabilities in 180 of the 815 sites visited throughout the region during this year's third quarter. As in the past, R.J. Brunelli's study evaluates shopping centers and freestanding buildings exceeding 2,000 square feet—including restaurants, auto service facilities and vacant auto dealerships whose location and configuration makes them viable for retail use. Regional malls and centers under construction or in the early or mid-stages of major redevelopment are excluded.
Taken together with the year-over-year decline reported last week in the vacancy factor for six northern New Jersey highways to 7.3% from 8.1%, the overall north/central vacancy rate for the 10 retail corridors surveyed by the firm fell to 7.4% in 2014 from 9.0% a year ago. R.J. Brunelli found a total of 4.52 million square feet of empty space in the 61.06 million square feet reviewed in the two regions, with big-box spaces (20,000 square feet and above) accounting for 1.45 million square feet, or 32.2%, of the vacancies.
The improvement in the two regions was triggered by a significant number of new leases that accounted for more than 3.4 million square feet during the past 12 months, according to the firm's research. Big-box chains doing multiple deals across the two regions' corridors included Nordstrom Rack (Routes 10, 1 and 35); Hobby Lobby (Routes 1, 9 and 46); and Big Lots (Routes 10, 1 and 35). Smaller-space operators with multiple deals along the corridors were led by R.J. Brunelli client Dollar Tree (five locations), followed by Jersey Mike's, Med Express and Tiger Shulman martial arts (each with four).
"While empty big-boxes continued to be absorbed in central New Jersey during 2014, one interesting development was the steeper reduction in smaller-store vacancies," said Richard J. Brunelli, president of the firm. Indeed, vacancies in big-boxes along the four corridors were trimmed by a net of 293,814 square feet, or 27%, to 796,053 square feet. Concurrently, the region's inventory of vacant smaller (sub-20,000 square feet) spaces was reduced by a net of 324,211 square feet, or 17.4%, to 1.54 million square feet. "This contrasted sharply with what we saw in northern New Jersey, where a very strong reduction in big-box vacancies was partially offset by rising vacancies in smaller spaces," he noted. In all, the big-box share of total vacancies on the central corridors slipped to 34.1% from 36.9% in 2013.
The big drop in the central region's inventory of empty spaces below 20,000 square feet was fueled by multiple leases with some of the company-operated and franchised chains named above, as well as others like STS Tires, Turning Point, 7Eleven, Advanced Auto, and Pet Valu. Additionally, the central corridors saw a number of single-location leases in the 10,000- to 20,000-square-foot range with chains like AC Moore, Furniture King, Harbor Freight, Guitar Center, CVS, Mattress Factory, Party City, Smashburger, as well as a variety of local operators. "These deals offset the impact of closures from bankrupt chains like Coldwater Creek and Dots (the latter now being resurrected under new ownership), as well as strategic downsizings by such chains as Radio Shack, Game Stop and Shoe Carnival," said R.J. Brunelli senior vice president Ron DeLuca.
Notably, no new big-box vacancies were seen along the central corridors since the firm's 2013 survey. Among the spaces absorbed over the past 12 months, the remaining 62,600-square feet in the long-vacant former Lowes building at Seaview Square on Route 35 in Ocean Township was subdivided between Big Lots and the Sky Zone trampoline park. Coupled with the aforementioned leases for AC Moore, Guitar Center and several smaller spaces, the vacancy rate in the once-struggling, approximately 800,000-square-foot outdoor center was lowered to just over 10%; the 65,000-square-foot former Value City building is the biggest single remaining space. Also on Route 35, indoor arcade Funtime America opened in a 27,000-square-foot Eatontown space vacated several years ago by Avalon Carpets.
Elsewhere in the region, big-box absorptions along Route 9 included two deals on the Freehold Raceway Mall ring road: Huffman Koos leased a 33,000-square-foot space that previously housed Marshall’s, as the once-bankrupt furniture brand continues its expansion under new ownership, and Bob’s Furniture opened in the 22,000-square-foot space once occupied by Office Depot. The two stores join fellow furniture retailer Raymour & Flanigan in the ring road strip. Additionally, Hobby Lobby opened its second location along the corridor at Friendship Plaza in Howell, taking the 20,700-square-foot former AC Moore space and approximately 50,000 square feet of adjoining vacancies. Hobby Lobby will soon be joined in the center by a World Class Shop-Rite, which took over the Pathmark supermarket and a portion of the Kmart store, both of which closed since the time of the 2013 survey. On Route 1 in North Brunswick, Crunch Fitness took the remaining 26,400 square feet of the long-vacant Office Depot in Commerce Center.
Besides the move of Shop-Rite into Friendship Plaza, other notable big-box leases involving new sites or spaces that were still occupied at the time of the firm's 2013 survey included the openings of a 136,000-square-foot Target and 152,000-square-foot Costco at the new North Brunswick Town Center on Route 1; the signing of Whole Foods at Allaire Plaza on Route 35 in Wall Township, where the chain will take an approximate 40,000-square-foot space created from the recently closed Brielle Sports Club and adjoining small-store vacancies; and Nordstrom Rack's deals for 35,000-square-foot spaces at Mercer Mall on Route 1 and the expanded Crossroads at Eatontown on Route 35 (anchored by Macy's Furniture).
As accounted for in last year's survey, other major big-boxes debuting on the corridors include the 150,000-square-foot Walmart Supercenter that just opened on Route 18 North in East Brunswick on a site previously occupied by Sam's Club, a flea market and furniture store. This came on the heels of the April 2014 opening of a Walmart Supercenter on Route 18 South in Old Bridge (an area not included in the firm's survey) on a site that previously housed a golf driving range and arcade.
"As we saw in northern New Jersey, the central region is experiencing somewhat of a revival in new development and redevelopment activity, as landlords move to capitalize on an improving economy," Mr. Brunelli noted. At the junction of Routes 1 and 35 in Woodbridge, R.J. Brunelli is serving as exclusive leasing agent for Richmond Plaza, an approved 75,000-square-foot center. Just south of there on Route 1, the firm is also assisting Onyx Equities on the redevelopment of the Woodbridge Crossing power center, serving as exclusive leasing agent for the 33,300-square-foot former Circuit City space and over 10,000 square feet of smaller store spaces. Existing anchors include Burlington Coat Factory, Big Lots, Modell's, and Party City. Further south on Route 1, leasing continues on the balance of the aforementioned North Brunswick Town Center anchored by Target and Costco, which is zoned for up to 450,000 square feet of space. Not far off the Route 1 corridor, R.J. Brunelli serves as exclusive leasing agent on Onyx's major redevelopment and renovation of Plainsboro Plaza, a 215,000-square foot neighborhood center at the junction of Scudders Mill and Schalks Crossing Roads that is in the process of replacing its two anchors, with Planet Fitness just signed for one of the spaces.
On Route 9 and Lanes Mill Road, site work is under way on The Grove at Howell, a 290,000-square-foot power center whose anchor lineup will include an 88,000-square-foot BJ's Wholesale Club. Also in Monmouth County, National Realty & Development Co. is now marketing The Shoppes at Middletown, a 380,000-square-foot, open-air town center that will be built on a long under-developed site at the intersection of Route 35 North and Kings Highway that currently houses the Spirits Unlimited liquor store with its landmark 'clown' sign.
Results for central New Jersey's individual roadways are as follows:
Route 1. The vacancy rate along the 30-mile corridor extending from Woodbridge to Trenton dropped for the sixth straight year to 6.4% from 6.7% in 2013. Over the past 10 years, the corridor's vacancy factor has gone from a low of 2.4% in both 2006 and 2007 to a high of 9.5% in 2009.
In the most recent study, R.J. Brunelli found 581,481 square feet of vacancies in 9.08 million square feet; availabilities were seen in 31 of the roadway's 138 retail sites.
Big-box vacancies declined 14.2% to 254,603 square feet, or 43.8% of the roadway's empty space—down from 51.4% a year ago. That relatively high ratio reflects the impact of a number of longstanding vacancies, led by the lower level of the former Great Indoors store at Woodbridge Crossing (approximately 79,000 square feet), the former Oscar Huber Furniture building in Lawrenceville (60,000 square feet), and a former Pathmark in North Brunswick (54,000 square feet).
Route 18. Ending two years of improvements, the vacancy rate along the five-mile retail corridor in East Brunswick rose to 12.1% from 11.4% in 2013. Though still well below the 22.1% peak set in 2011, the highway remains a long way from the 10-year low of 4.0% notched in 2005.
A total of 329,466 square feet of vacancies were found in the roadway's 2.72 million square feet of space, with availabilities in 19 of the 89 properties reviewed.
The inventory of empty big-box spaces remained unchanged at 77,437 square feet, or 23.5% of the corridor's vacancies. These include the long-vacant former Home Depot (approximately 54,700 square feet) and Office Depot (22,800 square feet), and the remaining 18,500 square feet of the Car-Khuff's Furniture store that went dark in 2012.
Route 9. The aforementioned big-box deals on the Freehold Raceway Mall ring road and at Friendship Plaza, combined with a large number of mid-range and smaller space leases to drive the vacancy rate along the 35-mile Woodbridge-to-Lakewood corridor down to 7.7% from the 10-year high of 8.6% in 2013. Over the last 10 years, the roadway's vacancy factor was as low as 3.6% in 2008.
The firm's 2014 study showed 693,976 square feet of vacancies in the 9.01 million square feet reviewed. Empty spaces were seen in 67 of the 247 properties visited.
Route 9's inventory of empty big-boxes declined 28.5% to 193,000 square feet, or 27.8% of the highway's total vacancies. The available big-box space is clustered in the 165,000-square-foot former Lowe's in Old Bridge that's been closed for several years and a long-vacant 28,000-square-foot former Linens 'n Things in Howell.
As work gears up on the aforementioned BJ's-anchored power center in Howell, development was completed this fall on the roadway's newest center, Pagano Associates' Marlboro Commons (which will be included in the 2015 survey). R.J. Brunelli served as exclusive leasing agent on the 100,000-square-foot property at the intersection of Route 520, which has just 4,700 square feet available, and is anchored by Whole Foods and Walgreens. Across the road, the 306,500-square-foot Marlboro Plaza underwent a major renovation and re-tenanting highlighted by the 2013 opening of a 61,000-square-foot Hobby Lobby in the former Pathmark space, as well as the addition of several new tenants this past year, including specialty grocer Livoti's Old World Market (12,000 square feet) in a deal brokered by R.J. Brunelli. Following these moves, less than 2% of the property's space is available.
Route 35. The vacancy rate along the most heavily-retailed corridor in central and northern New Jersey plummeted to 7.2% from a 10-year high of 13.0% in 2013 amid continued progress at Seaview Square and the completion of a large number of small and mid-range deals up and down the highway. Over the last 10 years, the vacancy factor had been as low as 3.4% in 2006.
A total of 729,508 square feet remained vacant in the 10.12 million square feet studied along the 25-mile Aberdeen to Brielle corridor and an adjoining section of Route 36 extending from its intersection with Route 35 in Eatontown to West Long Branch. Availabilities were seen in 63 of the 341 properties studied.
The corridor's big-box inventory dropped 39.3% to 271,013 square feet, or 37.2% of the corridor's vacancies. All remaining big-box space has been on the market for at least three years, led by the 82,000-square-foot Levitz building in Wall Township, the 65,000-square-foot Value City at Seaview Square and a 53,000-square-foot Pathmark in Middletown.
For copies of R.J. Brunelli & Co.'s central or northern New Jersey studies, contact R.J. Brunelli & Co., 400 Perrine Road, Suite 405, Old Bridge, N.J., 08857; visit www.njretailrealty.com, or call (732) 721-5800.
SOURCE R.J. Brunelli & Co., LLCRelated Links
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