By Joshua Burd
A joint venture will develop a new shopping center anchored by a wholesale club at a busy intersection in Hanover, the firms announced Thursday.
The developers, RD Management LLC and JMF Properties, said the new property will span about 180,000 square feet and will be anchored by a to-be-built BJ’s Wholesale Club. The membership warehouse store will occupy 89,770 square feet at the property, which sits along Hanover Avenue and just off Horse Hill Road.
The site will share a newly installed traffic light with the William G. Mennen Sports Arena, located directly across from the center on Hanover Avenue, the developers said in a news release. It will add to a mix of area retailers including Walmart, TJ Maxx, Home Goods, ShopRite and Acme.
“We are always looking for developments and tenants that have potential to enhance and support the surrounding community,” said Richard Birdoff, principal and president of RD Management. “BJ’s Wholesale Club offers a unique way for the Hanover Avenue corridor community members to connect, shop, and take care of their vehicle maintenance all at one convenient location.
“Working with JMF Properties on this joint venture has been a seamless process, and we are excited to see the new development come to fruition.”
RD Management is a New York-based firm specializing in retail, with 20 properties in New Jersey and more than 150 nationally. JMF Properties is based in Whippany, with some 700,000 square feet of retail space in a pipeline that also includes several other asset classes.
The new wholesale club will include a BJ’s Tire Center, BJ’s Gas and 27,850 square feet of additional retail space in two separate buildings.
“The BJ’s Shopping Center will serve as another key driver in the growth of the Hanover Avenue corridor as a vibrant retail destination,” Joe Forgione, CEO and president JMF Properties, said in a prepared statement. “The area possesses all of the elements essential for a thriving retail corridor, including a high-income population and convenient access to major roadways. It’s been a profoundly collaborative effort in getting to this point, from working with the Mayor’s office and Hanover Township Planning Board on their overall redevelopment vision to partnering with RD Management on attracting the right retail tenant.
“We’re pleased to have played a role in making this a reality.”