The move was prompted by the fact that Fameco recently landed two big exclusives in New Jersey, involving seven shopping centers. The firm currently leases 65 shopping centers totaling 12.5 million sf, with almost a third of the latter total in New Jersey.
"The New Jersey market has been a growth area for us for the last five years, and we expect to make further inroads now that we have a centrally located office in the region," according to Famous.
The two latest exclusives are with American Continental Properties and Angeloni Development, and all of the centers are in South Jersey. The ACP properties include the 240,000-sf Cumberland Crossing in Millville, anchored by Wal-Mart, Staples and Pathmark; the 285,000-sf Berlin Circle Plaza in Berlin, anchored by Home Depot, Shop-Rite and Staples; the 170,000-sf Pennsville Marketplace in Pennsville, anchored by Wal-Mart and Superfresh; and the 120,500-sf K-Mart Plaza in Burlington, Twp.
The Angeloni properties, all in the development stage, include a 295,000-sf center in Medford, to be anchored by the Home Depot; the former Caldor Plaza in Woodbury Heights, which is being redeveloped with a major supermarket anchor; and a 150,000-sf property in Little Egg Harbor Twp.
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