Simon Kravco Will Expand Mall by 650,000 SF

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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 owner s 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.