Editor’s Note
Sprucing it up

New Jersey is largely built out, at least as far as the best locations are concerned, meaning redevelopment is often the only option. That’s driving a series of new investments by shopping center owners that have secured new deals with supermarkets and other big-box tenants. Those landlords are now renovating their assets in conjunction with the new anchor leases, which figures to help attract new retailers to those properties.

Retail
Principal sells 215,000 sq. ft. grocery-anchored retail center in Delran, JLL says

Principal Asset Management has sold a nearly 215,000-square-foot retail property in the Burlington County township of Delran, brokers with JLL announced Thursday.

Retail
New 120,000 sq. ft. retail project bringing expanded ShopRite to Hillsborough, RIPCO says

A new ShopRite is coming to Hillsborough as part of a 120,000-square-foot development that’s slated to break ground early next year, according to a leasing team with RIPCO Real Estate.

Retail
ShopRite debuts at new-look Fair Lawn retail center, following deal arranged by RIPCO

A new ShopRite has opened its doors off Route 208 in Fair Lawn, where it anchors a redeveloped retail property owned by Crossroads Cos.

Residential & Mixed Use
Brookfield, G&S break ground on 802-unit high-rise at ShopRite property in Jersey City

A joint venture has broken ground on a high-rise that will add more than 800 apartments to downtown Jersey City, in the latest phase of a plan to transform a well-known retail property.

Retail
LMC: New ShopRite store, center-wide upgrades coming to Blue Star on Route 22

ShopRite is getting a new home at Blue Star Shopping Center in Watchung, under a major redevelopment of the prominent 420,000-square-foot property on Route 22.

Retail
JLL inks sale of 395,000 sq. ft. ShopRite-anchored retail center in Suffolk County

A nine-building, grocery-anchored retail center spanning nearly 400,000 square feet has changed hands on Long Island, in a deal arranged by JLL’s Morristown-based capital markets team.

Finance & Capital Markets
Owner of ShopRite-anchored center in Belleville refis for $12 million, Cronheim says

The owner of a grocery-anchored shopping center in Belleville has refinanced the property for nearly $12 million, brokers with Cronheim Mortgage announced Friday.

Residential & Mixed Use
Developers join Murphy, Oliver to launch $500 million redevelopment in East Orange

An investment group has broken ground on what’s billed as a $500 million development project in East Orange, where plans call for 820 mixed-income apartments and more than 200,000 square feet of commercial space anchored by a new supermarket.

Retail
Joint venture sells 129,000 sq. ft., ShopRite-anchored center in Hackensack, JLL says

JLL has negotiated the sale of Riverfront Plaza, a 129,000-square-foot shopping center anchored by ShopRite in Hackensack.