EAST HANOVER — Morris County residents will soon have a new destination for arts and crafts supplies as Hobby Lobby prepares to open its inaugural store in the area. According to the commercial real estate information platform CoStar, the renowned retailer has secured a standalone site at 180 Route 10 in East Hanover. While an official opening date has yet to be announced, preparations are already underway, including recruitment efforts for the upcoming location.
Headquartered in Oklahoma, Hobby Lobby offers a wide range of products, including home décor, arts and crafts supplies, party goods, and jewelry. With a footprint of more than 990 stores nationwide, including approximately 15 locations in New Jersey, the company is making its mark in East Hanover by occupying a 50,200-square-foot space formerly left vacant after Bed Bath & Beyond’s bankruptcy filing and subsequent auctioning of its stores.
As part of the bankruptcy proceedings, leases for Bed Bath & Beyond stores, along with warehouses and distribution centers, will soon be up for auction, according to A&G Real Estate Partners, the retailer’s real estate advisor. Given Bed Bath & Beyond’s prime locations at destination retail properties, these sites are attracting considerable interest from national, regional, and local retailers, particularly dollar stores, discounters, and other emerging chains.
Among the retailers seizing opportunities at auction, South Jersey-based Burlington acquired leases for 50 locations, including one on Route 3 in Clifton, with a notable investment of $13.5 million. Additionally, Nordstrom Rack, the sister brand of luxury department store chain Nordstrom, is set to occupy former Bed Bath & Beyond properties, with a new location slated for Manalapan Commons in Manalapan, expected to open in spring 2025.
