Real Estate Journal — Shopping Centers — November 25 - December 8, 2016 — 3C
www.marejournal.com
M id A tlantic
S hopping C enters
By Richard Birdoff, RD Management Turning rubble into real estate: $70M project in Evesham, NJ takes off
T
he past year has been productive for RD Management
will offer 338 luxury apart- ments spanning 458,523 s/f. The larger 206,203 s/f Manor building will con- tain 158 units, and four additional 63,080 s/f resi- dential buildings will offer 45 units each. The center will also encompass two restaurants, a coffee shop, a separate ±24,000 s/f two- story commercial building consisting of 12,000 s/f of ground-floor retail and 12,000 s/f of second-floor of- fice space, and a park filled with walkways, jogging paths, and a pond. We’ve worked closely with Eve-
sham Township officials to create a dynamic, walk- able space that enhances the surrounding neighbor- hoods and draws commu- nity members to live, work, shop, and relax at the new Renaissance Square. Stay tuned for more updates. RD Management owns 73 retail, mixed-use, vacant land, office, and storage properties in the Northeast and has more than 200 properties in its national portfolio. Richard Birdoff is prin- cipal and president of RD Management. n
and other commercial real estate developers through- out the region. At RD, we’ve had several projects in New Jersey and Virginia gain serious momentum over the past few months, some new and others already in the works that have recently kick-started construction. However, as we all know, large redevelopment proj- ects take time, and our development in Marlton, NJ, The Shoppes and Res- idences at Renaissance Square, is no exception. We’re thrilled that the development, located in Evesham Township, has experienced major prog- ress and we don’t foresee the winter months imped- ing upon the construc- tion. When completed the mixed-use center, formerly known as Tri-Towne Plaza, will contain 583,858 s/f of residential, retail, restau- rant, medical, office, and commerc ial space. The cost of the redevelopment is expected to exceed $70 million. We anticipate the center, located on State Highway 70 at the inter- section of North Locust Avenue, to have its first oc- cupants open for business by the summer of 2017. The Shoppes and Residences will be a destination for the community. A huge part of the rede- velopment process at The Shoppes and Residences at Renaissance Square has been the planning and site perpetration. Last winter, we demolished the old K-Mart building at the site. With the exception of the K-Mart, we were able to rehabilitate the balance of the existing Tri- Towne Plaza structures. We were able to recycle and use on-site much of the older buildings and site infrastructure including concrete, asphalt, and ma- sonry block. We are busy at work on-site, redevelop- ing the area where the old K-Mart stood, rehabbing existing structures, and leasing the revitalized and to-be-constructed buildings to new tenants. On c e c omp l e t e , The Shoppes and Residences at Renaissance Square
The Shoppes and Residences at Renaissance Square
Jersey Shore Retail Opportunities Retail Space Kmart Center Rte. 37 E, Toms River, NJ
Two New Turn-key Restaurants Available • Pizzeria – 1,600 sf • Buffet – 8,000 sf
Kay Commercial Realty Services, LLC Tinton Falls, NJ 732-918-1148 www.kayrealtyholdings.com
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