ROXBURY TOWNSHIP, NJ—A partnership between Advance Realty and DeBartolo Development has received approval to redevelop The Shops at Ledgewood Commons, a 450,000-square foot, power center on Route 10 in Roxbury, NJ.
To attract a diverse mix of shopping and dining that will appeal to residents of Ledgewood and the surrounding area, the partnership will make extensive capital improvements, including removal of the existing Ledgewood Mall to create a modern open-air shopping center with a mix of anchor, junior-anchor and pad-site opportunities. Demolition and construction of the new shopping center is expected to commence late summer, with an estimated completion date in 2019.
“For the last two years, we’ve been carefully designing a plan to transform this prime commercial property into a place where locals can meet, eat and shop,” Advance Realty founder and CEO Peter Cocoziello says. “We’re grateful and excited that Roxbury Township supports our vision for the property, and we look forward to delivering a world-class shopping destination.”
Key to the vision for The Shops at Ledgewood Commons is the center’s prime geographic location amid a thriving trade area. The property is conveniently located in Morris County on Route 10, a quarter of a mile from Route 46 and two miles from I-80. More than 100,000 people reside within a five-mile radius, with an average household income in excess of $125,000.
Advance and Debartolo acquired the former Ledgewood Mall property in 2015.
“We could not be more excited to progress to the next phase of our partnership with Advance and begin work on The Shops at Ledgewood Commons,“ says Ed Kobel, DeBartolo’s president and chief operating officer. “We look forward to transforming this formerly aging property and adding new energy to this already vibrant corner of Morris County.”
Mike Testa, Bill Farkas and Shane Wierks of Jeffrey Realty are serving as exclusive leasing agents for the shopping center.