Developer Proposes $30M Shopping Center

WALL TWP., NJ-The township committee has designated Jayeff Construction Management and Development Corp. as its developer of choice for a proposed shopping center here. The Manasquan-based Jayeff won the nod over five other developers that responded to the committee’s request for proposals.

Jayeff’s task is to redevelop the 9.3-acre vacant former junkyard operated by Wall Auto Wreckers in the West Belmar section of this Monmouth County township. The former junkyard was condemned late last year under the township’s West Belmar Gateway Area Redevelopment Plan. The larger plan, according to township officials, is to upgrade West Belmar’s retail environment, and the redevelopment plan designation for the area carries with it some tax breaks and expedited zoning.

What Jayeff has in mind, according to company president Jack F. Zoller, is a lifestyle-type center of approximately 160,000 sf. Target tenants include an upscale apparel store, a family-style restaurant and a health spa and salon, according to Zoller. The largest tenant in the complex would be in the 40,000-sf range, according to general plans laid out by Jayeff. Besides the retail stores, provision would be made for offices on the second floor of the building.