Marketplace at Burlington in Talks with New Tenants

BURLINGTON TOWNSHIP, NJ—The ownership of the Marketplace at Burlington, which will be launching a more than $230-million redevelopment project next year of the former Burlington Center Mall, is in talks with in excess of a dozen new tenants and a host of restaurants.

Moonbeam Capital Investments L.L.C. is in talks to finalize letters of intent with 16 new tenants and seven restaurants, according to Shawl Pryor, senior vice president and director of real estate for Moonbeam.

"We had a lot of interest from nontraditional enclosed-mall tenants—those typically found in power strip malls or lifestyle centers," he says. "We are creating a hybrid concept with some of those tenants, and tying them in with enclosed mall tenants."

Site work on the outer parcels for the restaurants could begin in late summer, according to The Inquirer.

Moonbeam Capital Investments is expected to present plans, including architectural and civil engineering drawings, as well as projected traffic counts for the multi-phased project to the township in the coming months. The redevelopment of the former underperforming Burlington Center Mall is expected to begin in the spring of 2016.

Moonbeam recently secured rights to acquire the space of the Burlington mall's former JCPenney anchor store, which closed in early May of last year. "With control of the JCPenney property, it gives us more opportunity to expand the development," Pryor says. "It allows us to re-tenant or repurpose the building, and offers a set of options on how we could utilize the land and the building." See story in The Inquirer.