$100M Retail Project Receives State Help

EXETER TWP., PA-The $100 million Exeter Commons retail project here received a boost from the state in the form of an infrastructure and facilities program grant. The Berks County Industrial Development Authority will receive $796,476 a year for the next 10 years to defray some of the project’s $18 million cost for road improvements.

As previously reported on GlobeSt.com, Exeter Commons, located along Route 422, will consist of a 500,000-sf facility anchored by Target, Lowe’s and Giant Supermarkets. Other tenants will include Circuit City, Famous Footwear and Chick-Fil-A. The property is being developed by Exeter JV Associates, a partnership of Ironwood Property Group and the Goldenberg Group.

Jeremy Fogel, president of Ironwood Property Group, previously told GlobeSt.com that traffic problems kept many retailers out of the Exeter area. “This area is really a hole in the donut for a lot of retailers,” Fogel said. “The Berks County market is an area where a lot of the anchor stores have been looking to locate. Because of the traffic problems, this particular target is one they’ve looked at, but haven’t been able to locate in.” The site, at the intersection of Business Route 422 and Bypass Route 422, suffered from traffic backup due to the large number of cars trying to merge.