The signing was arranged by Pete Nicholson of Metro Commercial Real Estate Inc. of Mt. Laurel, NJ, which serves as the exclusive leasing agent for the property. Stop & Shop will take over - and has started renovating - a store formerly occupied by the defunct Grand Union chain. Stop & Shop itself is owned by the Netherlands-based Royal Ahold, one of Europe's largest retail operators.
The shopping center, which is located on Route 1 in Central New Jersey's Middlesex County, is also anchored by Macy's and Bloomingdale's Furniture - but not for long. Federated Department Stores, owner of both chains, announced earlier this year that it would shutter both stores. The 80,000-sf Macy's is expected to close next month, and the 50,000-sf Bloomingdale's Furniture will be history later this year.
No replacements for the two departing anchors have been announced yet. Together, they add up to nearly half of the GLA at the 30-tenant shopping center.
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