JV to Develop $50M Outlet Center

FRANKFORD TOWNSHIP, NJ-California outlet shopping center developer Craig Realty Group and Secaucus, NJ-based Sussex Commons Associates LLC formed a joint venture to develop the $50 million, 303,500-sf Sussex Commons Lifestyle Outlets in Frankford Township.

The architecture of Sussex Common Lifestyle Outlets, located on 45 acres in an area called Ross’s Corner at Highway 206 and Route 564, will capture the mood of a New England village with individually-designed store fronts and a prominent clock tower focal point. Construction is scheduled to begin in spring 2004 with an opening date of summer 2005.

Steven L. Craig, president and CEO of CRG, has developed over four million sf of factory outlet shopping center retail in the past 25 years and currently owns and operates 1.6 million sf of existing retail space in three states. Sussex Commons Associates, LLC is lead by Anthony Santarelli and Howard Buerkle. Santarelli was president of Mikasa Dinnerware for 33 years, overseeing 170 stores and Buerkle was president of the outlet division of Jones New York for over 14 years.