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540,000-SF Quartermaster Plaza Breaks Ground 75% Leased

PHILADELPHIA-With commitments for more than 100,000 sf from both Home Depot and BJ's Wholesale Club and a slew of smaller-space retail leases, the $100-million shopping center on 44 acres in South Philly gets under way.

By Marita Thomas | Updated on October 14, 2003

PHILADELPHIA-Quartermaster Plaza, a 540,000-sf shopping center on 44 acres in South Philadelphia, breaks ground with lease commitments for more than 75% of its retail space. The construction cost is estimated at $100 million, and the center, one of the largest ever here, is scheduled to open in late 2004 or early 2005.

Brooklyn-based Forest City Ratner Cos. is the lead developer, working on the project in conjunction with locally based Synterra Ltd. and Bryn Mawr, PA-based Moreland Development LLC. Michael Salove Co. Commercial Real Estate, which is based in Bala Cynwyd, PA and has an office here, is the exclusive leasing agent.

Steven Gartner, COO of Michael Salove, tells GlobeSt.com that a little more than 75% of the retail space is leased. Anchors are Home Depot with 120,000 sf and BJ’s Wholesale Club with 100,000 sf. Other committed tenants are Petsmart, Staples, AJ Wright, Old Country Buffet, Fleet Bank, Walgreen’s, Children’s Place and Wendy’s.

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