X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LAWRENCEVILLE, NJ-The 1.1 million-sf Quaker Bridge Mall here will get a major expansion that will increase its floor space by almost 60%. The 650,000-sf addition being launched by owners Simon Property Group and Kravco Simon Investments will include at least two new department stores, additional retail space and a parking deck.

The cost of the project hasn’t been released. The existing property will also get a major renovation, according to Robert Spaulding, senior vice president of development for the Indianapolis-based Simon Property Group. Originally constructed in the mid-1970s by the King of Prussia, PA-based Kravco, Quaker Bridge Mall became part of Simon’s portfolio in late 2003 when the company bought an 80% share of Kravco Investments, renaming it Kravco Simon Investments. Simon also bought a 50% interest in the Kravco Co., the property management arm, renaming it Kravco Simon Co.

Current anchors of the property are J.C. Penney, Lord & Taylor, Macy’s and Sears, and Kravco Simon hasn’t disclosed who the two new anchors or any of the new smaller tenants might be. According to Spaulding, however, the goal is to take the tenant mix up a notch.

“Upscale fashion retailers are especially anxious to explore the opportunities at Quaker Bridge,” says Spaulding, without revealing any names. “These improvements, both in terms of the expansion and the total renovation, are aimed at moving Quaker Bridge Mall to a new level among retail properties in the tri-state area. The project will also create hundreds of new jobs, both in terms of construction jobs and permanent employment.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.