A rendering of The Shoppes and Residences at Renaissance Square — Courtesy: RD Management LLC
By Joshua Burd
Virtua Medical Group has leased more than 30,000 square feet at a mixed-use complex in Marlton, where the owner is in the midst of a $70 million redevelopment project.
The developer, RD Management LLC, announced Wednesday that it had inked the lease agreement at The Shoppes and Residences at Renaissance Square. The nonprofit health system affiliate will occupy 32,568 square feet at the property on Route 70, which expects to have its first occupants in place by summer 2017.
The development sits at the intersection of North Locust Avenue, occupying the site of the former Tri-Towne Plaza. The decades-old property was once anchored by Kmart and then Sears, but Evesham Township officials in recent years have sought to redevelop the aging property.
When complete, it will be a mixed-use center with 583,858 square feet, including 338 luxury apartments, along with retail, restaurants, medical and office space.
“We’re committed to making The Shoppes and Residences at Renaissance Square a truly mixed-use destination, and adding Virtua Medical Group is our first of many announcements to come as the center takes shape,” Richard Birdoff, principal and president of RD Management, said in a prepared statement. “Virtua Medical Group provides top-notch services, and we’re glad to be able to bring the highest-quality care to the greater Evesham Township community.”
The portion of the mixed-use facility that faces Route 70 will be converted into an open space and park complete with new jogging paths, walkways and a pond.
Virtua Medical Group is a network of 302 physicians, surgeons and clinicians exclusively affiliated with Virtua, comprising more than 50 locations throughout the region, RD Management said in a news release. Virtua’s services at The Shoppes and Residences at Renaissance Square will include primary care, physical therapy, labs, pulmonary care and the Virtua Surgical Group.