A rendering of The Shops at Ledgewood Commons in Roxbury — Courtesy: Advance Realty and DeBartolo Development
By Joshua Burd
Developers have secured the local approvals needed to begin “de-malling” a mall in western Morris County, paving the way for them to reposition it as a new open-air shopping center.
The joint venture of Advance Realty and DeBartolo Development said this week it would begin work on the existing Ledgewood Mall on Route 10 in Roxbury. The partners will look to attract new retailers through a series of extensive upgrades, highlighted by the demolition and construction that will de-mall the property and create a mix of anchor, junior anchor and pad site spaces totaling 450,000 square feet.
That work is slated to begin late this summer and is slated for completion in 2019, the joint venture said in a news release. The repositioned power center will be known as The Shops at Ledgewood Commons.
“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,” said Peter Cocoziello, founder, CEO and president of Bridgewater-based Advance Realty. “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.”
Mike Testa, Bill Farkas and Shane Wierks of Jeffrey Realty are serving as exclusive leasing agents for the shopping center.
Advance Realty and Debartolo Development acquired the Ledgewood Mall property in 2015, seeing its potential because of its accessibility and location within a strong consumer population. Sitting on Route 10, the site is a quarter-mile from Route 46 and two miles from Interstate 80.
The firms also noted that more than 100,000 people reside within a five-mile radius, with an average household income in excess of $125,000.
“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,” said 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.”