PARSIPPANY, NJ—Old Navy has signed a lease deal at the Waterview Marketplace and will occupy a 12,500-square-foot store there this summer.

The new lease deal was announced today by RD Management, LLC, JMF Properties and RIPCO Real Estate, the exclusive leasing agent for the property.

The 146,792-square-foot shopping center is centrally located at the jug-handle intersection of Waterview Boulevard and Route 46. Old Navy will join Whole Foods Market, Homesense, The Paper Store, Ulta Beauty, DSW, Orangetheory Fitness, and Shake Shack at the relatively new shopping center property in Morris County.

Waterview Marketplace borders Mountain Lakes and numerous office parks, which together create a high density, high income trade area with an average daily traffic count of more than 26,000.

"Due to Parsippany's high growth, we felt it was important to bring in a strong apparel retailer that can appeal to the entire family with its offerings," says Richard Birdoff, principal and president of RD Management. "Old Navy adds great value to our diverse mix of tenants and furthers our goal of creating a destination where the local community can satisfy all of its shopping needs within one, central place."

Last month, RD Management and partner JMF Properties announced five new retail leases totaling more than 88,000 square feet at the Harbor View Marketplace in Bayonne. The leases include a 35,117-square-foot Lidl store, a 35,008-square-foot LA Fitness, a 14,698-square-foot CVS Pharmacy, a 2,415-square-foot Starbucks and a 1,573-square-foot Posh Nails & Beauty Lounge. All are scheduled to open their doors at the property in the third quarter.

RD Management owns 21 properties in New Jersey and has more than 150 properties in its national portfolio.

Instant Insights /

Old Navy to Open New Parsippany Store This Summer

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