Urban Edge Properties (NYSE: UE) Leases TruGolf Flagship to Enhance Cherry Hill Retail Experience
- Urban Edge Properties signs a lease with TruGolf for a 6,045 square foot location at Cherry Hill.
- The partnership enhances Urban Edge's retail offerings, focusing on community engagement and experiential shopping.
- Urban Edge is committed to improving the Plaza at Cherry Hill and exploring additional retail opportunities.
Urban Edge Properties Expands Retail Footprint with TruGolf Lease at Cherry Hill
Urban Edge Properties (NYSE: UE) solidifies its position in the evolving retail landscape by signing a lease agreement with TruGolf for a 6,045 square foot flagship location at The Plaza at Cherry Hill in New Jersey. This strategic move marks TruGolf’s inaugural storefront, which will feature an upscale restaurant and a full bar, integrating dining with entertainment in a novel "eatertainment" concept. Scheduled to open before the end of 2025, the location aims to attract a diverse array of visitors to the shopping center, enhancing the overall consumer experience and driving foot traffic.
TruGolf, known for its cutting-edge golf simulators, is transitioning from a technology-focused business model to establishing physical locations, termed TruGolf Links Centers. These centers are designed to create an immersive entertainment atmosphere, combining high-tech golfing with a vibrant dining scene. As Dr. Ben Litalien, Chief Development Officer of TruGolf, emphasizes, the Plaza at Cherry Hill is a prime retail destination that will support this innovative concept. The center is already home to notable national brands such as Aldi and the recently opened Total Wine, which aligns with TruGolf's vision of providing an upscale experience in a competitive market.
Urban Edge Properties is also committed to enhancing the Plaza at Cherry Hill through property improvements, aiming to rejuvenate the shopping experience. Ronnie Bertrand, Director of Leasing for Urban Edge, underscores the company’s focus on identifying retail opportunities that resonate with community needs and foster excitement. The introduction of TruGolf's flagship location is not only a significant development for the Plaza at Cherry Hill but also represents a broader trend in the retail industry, where experiential offerings increasingly draw consumers seeking diverse and engaging shopping experiences.
In addition to the lease with TruGolf, Urban Edge Properties continues to explore other retail opportunities that align with its mission of enhancing community engagement. The company's proactive approach to tenant selection aims to ensure that each addition complements the shopping center’s existing offerings while responding to evolving consumer preferences.
Overall, the partnership with TruGolf exemplifies Urban Edge’s commitment to innovation in retail, setting the stage for a dynamic future at The Plaza at Cherry Hill and beyond. This collaboration not only strengthens Urban Edge's portfolio but also reflects the growing importance of experiential retail environments in attracting modern consumers.
