ROXBURY, NJ—A joint venture of Advance Realty, DeBartolo Development and Invesco has acquired the Ledgewood Mall in Roxbury, NJ, with plans to upgrade the retail center.
“The mall's ideal location on a large parcel of land within the heart of Morris County presented us with a compelling opportunity to acquire a property that is an important part of the area's retail sector,” says Peter Cocoziello, president of Advance Realty. “We look forward to working with our JV partners and the town of Roxbury to modernize the property and ensure its future.”
Built in 1972, the Ledgewood Mall occupies 46 acres and consists of three one-story buildings. The property consists of a 445,000-square-foot enclosed mall set at the rear of the site, a 60,000-square-foot outbuilding and a smaller 12,000-square-foot-out building, totaling 517,000 square feet. Located on Route 10, the property has high visibility for retailers and convenient access to key New Jersey roadways and 2,100 parking spaces.
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