A rendering of The Shops at Ledgewood Commons — Courtesy: Advance Realty
By Joshua Burd
The de-malling of the Ledgewood Mall is officially underway.
A joint venture of Advance Realty and DeBartolo Development said Wednesday that it had started demolition at the aging, indoor retail complex along Route 10 in Roxbury, paving the way for a sweeping redevelopment of the property. When complete, the site will be home to a modern, 450,000-square foot power center with a mix of open-air spaces.
The developers announced in August that they had secured local approvals for what will be known as The Shops at Ledgewood Commons. Completion is slated for 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,” said Peter Cocoziello, founder and CEO of Advance Realty. “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.”
Those next steps will include construction and a series major capital improvements aimed at attracting a mix of shopping and dining tenants. The joint venture acquired the site in 2015, seeing the potential of an affluent western Morris County location and more than 100,000 residents within a five-mile radius.
The property sits a quarter-mile from Route 46 and two miles from Interstate 80.
“We could not be more excited to begin work building The Shops at Ledgewood Commons,” said Edward Kobel, DeBartolo’s president and chief operating officer. “Retail properties around the country are undergoing a rapid evolution, and 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.
