RANDOLPH, NJ-CVS has broken ground and started construction for a 13,013-sf freestanding pharmacy on a 2.8-acre site along Route 10 in this Morris County community. The drug chain bought the site, which is part of a larger nine-acre tract, earlier this year from an affiliate of Vita & Vita Realty Corp. for an undisclosed price in a deal co-brokered by Eagle American Realty. The CVS store is expected to open by the end of the year.
The rest of the tract, which remains in the hands of the Fairfield, NJ-based Vita & Vita, is being developed as a multi-use project called Campus Plaza. At build-out, Campus Plaza will have a total of 54,000 sf of space.
The larger project, according to Anthony V. Vita, president of Vita & Vita, will include the Randolph Medical Arts Center, a two-story, 25,200-sf professional medical building that will replace existing medical offices on the site. Also part of the plan are additional retail stores fronting Route 10 and a 3,364-sf freestanding bank. A 2006 grand opening for Campus Plaza is anticipated.
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