BRIDGEWATER, NJ-The Village at Bridgewater Commons is nearing completion and its developers have set a September date for its official opening. The 95,000-sf open air lifestyle shopping center, which is costing $40 million to build, is a joint venture of General Growth Properties, the New York State Teachers Retirement System and institutional investors advised by JPMorgan Asset Management.

“The Village is a direct response to our customers’ needs,” says Michael McNaughton, vice president of asset management at GGP, which is managing the property. “It will feature premium stores and restaurants, and we feel it will be a natural gathering place.”

The open-air multi-building shopping center will be anchored by a 35,000-sf Crate & Barrel flagship store and a 15,000-sf, first-in-the-market Maggiano’s Little Italy Restaurant. Other tenants lined up by GGP include Ann Taylor Loft, Banana Republic, bluemercury, Brooks Brothers, Coldwater Creek, Origins, White House/Black Market, Johnston & Murphy and SGH.

The Village is rising next to Bridgewater Commons, a 900,000-sf enclosed super-regional mall with the same ownership. The new development will be joined to the existing center by a connecting road and walking path, but will have its own 465-car parking lot. Anchored by Bloomingdale’s, Lord & Taylor and Macy’s, the original Bridgewater Commons was completed in 1988 and renovated and expanded in 2005. The asset became part of GGP portfolio when the company acquired the Rouse Co. a few years back.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

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 © 2024 ALM Global, LLC. All Rights Reserved.