ROXBURY TOWNSHIP, NJ—Advance Realty and DeBartolo Development have begun development of The Shops at Ledgewood Commons, a 450,000-square foot, power center on Route 10 in Roxbury, NJ.
The partnership recently began demolition at the site – the first step in the de-malling of the existing Ledgewood Mall—and will soon start construction, implementing an extensive capital improvement program aimed at attracting a diverse mix of shopping and dining that will appeal to residents of Ledgewood and the surrounding area.
A modern, open-air shopping center, The Shops at Ledgewood Commons will offer a mix of anchor, junior anchor and pad site opportunities. Construction is expected to be complete in 2019.
“The demolition of this antiquated mall is an important first step in our plan to transform this prime commercial property into a place where locals can eat, shop and gather,” says Advance Realty founder and CEO Peter Cocoziello. “We’re grateful and excited that Roxbury Township supports our vision for the property, and we look forward to taking the next steps in delivering a world-class shopping and dining destination to the community.”
Key to the project is the center’s prime geographic location amid a thriving trade area. The property is a quarter of a mile from Route 46 and two miles from I-80, with more than 100,000 people within a five-mile radius, with an average household income above $125,000.
Advance and Debartolo acquired the former Ledgewood Mall property in 2015.
“Retail properties around the country are undergoing a rapid evolution,” says Edward Kobel, DeBartolo’s president and chief operating officer. “Our plan for this formerly aging property will ensure it remains a vibrant destination for decades to come.”
Mike Testa, Bill Farkas and Shane Wierks of Jeffrey Realty are serving as exclusive leasing agents for the shopping center.