American real estate development and investment business The Ferber Company has announced a redevelopment project in Basking Ridge, New Jersey, US.
Ferber will develop the project, called The Shops at The Crossings, on a portion of an old property site known as the Burlington Center Mall.
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Located along Route 541 between the I-295 and the New Jersey Turnpike motorways, the property has an overall area of approximately 30 acres.
The project will be built in phases and will feature three industrial buildings totalling 1.9 million square feet, constructed by principal developer MRP Industrial.
The shopping centre was developed in 1982 and became vacant in 2018 after the last tenant, Sears, closed down.
Burlington Township authorities collaborated on plans for a mixed-use project to improve the underutilised space and gave their approval in 2021 for the development plan and demolition of the existing facility.
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By GlobalDataSite works on this project are currently underway.
Ferber’s vice-president and retail development lead Justin Hollander said: “We are currently working on construction of Phase 1 of the project, with many of the tenants projected to open December 2023 and are hoping to confirm a possible medical office, dual-branded hotel, and/or fitness centre for Phase 2.”
The confirmed list of tenants for Phase I of the project comprises Panera Bread, Discount Tire, Raising Cane’s, Sleep Number, and Freddy’s Frozen Custard & Steakburgers.
The first stores are set to open by the end of this year.
