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M id A tlantic Real Estate Journal — Shopping Centers — July 28 - August 10, 2017 — 5A


arsippany, NJ — RDManagement LLC , one of the nation’s larg- Along with JMF Properties, and Ripco Real Estate Corp. RD Management breaks ground at Waterview Marketplace in Parsippany, New Jersey P Marketplace and reflect our vi- sion to create the most vibrant retail environment in Morris County.”

center alongside our partners. Whole Foods are always highly anticipated by residents, and with their nearest location far away for many in Waterview’s trade area, this new store will pull shoppers from all over.” “We are thrilled that such a prominent and well-respected brand like Whole Foods Mar- ket has chosen Waterview Marketplace for its next loca- tion,” said Joe Forgione , the founder and principal of JMF Properties. “Whole Foods will be a wonderful new addition to the community and will have a positive impact on the quality of life for area residents and employees. They are the right tenant to anchor Waterview

est privately h e l d r e a l - estate devel- opment and management o r g a n i z a - tions, along w i t h JMF Properties, and Ripco

“Whole Foods Market is on point with where our society is today culturally, with the focus being placed on health, wellness, and high-quality food offerings. As a result of this focus, Whole Foods will bring in customers from a wide region as more people concen- trate on overall wellbeing for themselves and their families,” Todd Cooper , co-founder of Ripco Real Estate Corp. said. “We are looking forward to leas- ing the remainder of the project to excellent operators locally, regionally, and nationally.” n the best location in the mar- ket. The presence of Home Depot and superior perform- ing restaurants enhances the tenant mix and provides shop- pers additional reasons to visit this center. We believe that we are adding The Potomac Mar- ketplace to the portfolio at the right time, as the trade area is poised to take advantage of catalysts for housing growth.” The population in the trade area has expanded significant- ly since 2000, growing 35.6% to 31,700. Moreover, the ratio of household incomes (aver- age: $77,042) to home values (median: $222,000) provides a customer base with significant discretionary income. Demand for housing is being fueled both by commuters seeking more affordable housing options and by jobs being created in the im- mediate area. Notably, the U.S. Customs and Border Security Advanced Training Center in Charles Town is expanding and Proctor & Gamble is construct- ing a 1.2 million s/f manufac- turing facility in Martinsburg, which will reportedly hire 700 new employees by 2019. This acquisition marks the joint-venture partners’ sixth ac- quisition overall and the third since November 2016. n

Waterview Marketplace

Waterview Marketplace will be anchored by a new Whole Foods Market that will occupy 48,000 s/f of the 150,150 s/f center set to open in 2018. This Whole Foods Market store is set to become the third location in Morris County. “RD Management’s goal at Waterview Marketplace is to

create a destination that ap- peals to both residents and employees in the Parsippany area,” said Richard Birdoff , principal and president of RD Management. “Having Whole Foods Market as the anchor tenant sets the bar high for the caliber of businesses we will work to bring into the

Richard Birdoff

Real Estate Corp. have broken ground at Waterview Marketplace in Parsippany.

HI-LIGHTS July 28 - Aug. 10, 2017 Yanni & Ginn of Equity Retail Brokers sell AutoZone

HeidenbergPropertiesGroup&SREPacquires The Potomac Marketplace for $35.9 million

Ranson, WV — A joint venture partnership between Heidenberg Properties Group and Strategic Real Estate Partners (SREP) announces the $35.9 million acquisition of The Potomac Marketplace in Ranson. The newly acquired property is a 370,000 s/f shopping cen- ter anchored by a 61,000 s/f Weis Supermarket, a 122,000 s/f Home Depot, an 88,000 s/f Kohl’s, and a 15,000 s/f Petco. The center is 92% oc- cupied and has 51,000 s/f of inline store space and outlots, which offer an array of popular restaurants including Panera Bread, Dunkin’ Donuts, Glory Days Grill, California Tortilla, Roy Rogers, and John’s Café. Prominently located along Rte. 9 (17,600 VPD) with 2,250 feet of frontage, The Potomac Marketplace is by far the dominant retail presence in the Ranson and Charles Town trade area (which includes historic Harpers Ferry). Rte. 9 has become the major retail corridor in the region with the next closest hubs located over 15 and 20 miles away in Martinsburg, West Virginia and Winchester, Virginia respectively. Rte. 9 connects the eastern panhandle of


KLNB brings first Massage Envy to Washington D.C.

The Potomac Marketplace aerial

West Virginia with Lees- burg, Virginia and the Dulles Technology Corridor just 40 miles southeast of the center. Regional access is provided just two miles south of the center by US Rte. 340, which connects Ranson to Freder- ick, Maryland, 28 miles to the east. Rtes. 9 and 340 also provide convenient access to

Interstates 81, 270, and 66. This network of highways has played an important role in the trade area’s recent and continuing growth. Robert Heidenberg , presi- dent and CEO of Heidenberg Properties, said, “In acquiring The Potomac Marketplace, we obtained yet another grocery- anchored shopping center in



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