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Real Estate Journal — Shopping Centers — December 22, 2017 - January 11, 2018 — 5A


M id A tlantic

Demolition begins at former Ledgewood Mall Site in Roxbury, NJ AdvanceRealty&DeBartoloDevelopment commence development of The Shops at Ledgewood Commons R

OXBURY TWP., NJ — A partnership be- tween Advance Re- alty and DeBartolo Devel- opment announced it has commenced the development of The Shops at Ledgewood Commons, a 450,000 s/f, power center on Rte. 10 in Roxbury. The partnership recently began demolition at the site – the first step in the de- malling of the existing Ledge- wood Mall – and will soon start construction, imple- menting an extensive capital improvement program aimed at attracting a diverse mix of shopping and dining that will appeal to residents of Ledgewood and the surround- ing area. A modern, open-air shop- ping center, The Shops at Ledgewood Commons will offer a mix of anchor, junior anchor and pad site oppor- tunities. Construction is ex- pected to be complete in 2019. GLENARDEN, MD — Petrie Richardson Ven- tures (PRV) and Pruden- tial Real Estate Investors , the owner-developers of the 140-acre, 700,000 s/f mixed- use development Woodmore Towne Centre, announced that Starbucks has signed a long-term lease and Sprint, Smoothie King, Last Stop and Pivot Physical Therapy are now open. “It’s great timing to have these strong retailers open at Woodmore Towne Centre in the holidays,” said Terry Richardson , president of PRV. “In a season that has a heavy emphasis on shop- ping and spending time with loved ones, we have made Woodmore Towne Centre a place where you can do both. Whether you’re looking for technology, clothing, wellness or food and beverage, we have something for everyone.” Starbucks Coffee Company is the premier roaster and retailer of specialty coffee in

Ledgewood Commons

“The demolition of this an- tiquated mall is an important first step in our plan to trans- form this prime commercial property into a place where locals can eat, shop and gath- er,” Advance Realty founder and CEO Peter Cocoziello said. “We’re grateful and ex- cited that Roxbury Township supports our vision for the property, and we look forward to taking the next steps in

delivering a world-class shop- ping and dining destination to the community.” Key to the vision for The Shops at Ledgewood Com- mons is the center’s prime geographic location amid a thriving trade area. The prop- erty is conveniently located in Morris County on Rte. 10, a quarter of a mile from Rte. 46 and two miles from I-80. More than 100,000 people reside

within a five-mile radius, with an average household income in excess of $125,000. The Partnership of Advance Realty and Debartolo Devel- opment acquired the former Ledgewood Mall property in 2015. “We could not be more ex- cited to begin work building The Shops at Ledgewood Commons,” said Edward Kobel , DeBartolo’s president gineering and deploying inno- vative technologies, including the first wireless 4G service from a national carrier in the United States. Smoothie King was founded in 1973 by Steve Kuhnau, with a mission of helping oth- ers achieve better health in a tasty way. Last Stop is a chain of re- tail stores selling the hottest men’s and women’s apparel, shoes, and accessories, includ- ing the latest styles from some of the country’s most recogniz- able brands. Pivot Physical Therapy is the premier provider of physi- cal therapy, occupational therapy, aquatic therapy and sports medicine services. Opened in 2010, Woodmore Towne Centre is anchored by Wegmans, Costco, JC Penney, Best Buy and Petco. PRV announced that Chil- dren’s National Health Sys- tem has signed a lease for a 60,000 s/f pediatric outpatient and specialty care center at

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 re- mains a vibrant destination for decades to come.” Mike Testa, Bill Farkas and ShaneWierks of Jeffrey Realty are serving as eleas- ing agents for the shopping center. n Woodmore Towne Centre. “Children’s National has long been committed to the health and well-being of chil- dren and families in Prince George’s County,” said Kurt Newman, MD, president and CEO. “The County’s kids comprise a significant portion of our patients, and we’ve con- tinued to expand our physical presence there, allowing fami- lies to access our top-ranked pediatric care services in their own communities.” The new facility allows Children’s National to expand the health care services it provides in Prince George’s County, as well as serve as the anchor for its established network of specialized pedi- atric care in the community. The new center will provide a broad range of specialty medical care—including car- diology, neurology, genetics, allergy, sports medicine and orthopedics—along with out- patient surgery, MRI, and rehabilitative medicine. n

Woodmore Towne Centre signs lease with Starbucks; Opens Sprint, Smoothie King, Last Stop, & Pivot Physical Therapy

Woodmore Towne Centre

the world. Their Woodmore Towne Centre location is slated to open mid-2018. Sprint creates more and better ways to connect its

customers to the things they care about most. Sprint served 54 million connections as of Sept. 30, 2017, and is widely recognized for developing, en-

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