Crossroads Companies, LLC Signs Long-Term Ground Lease at Wayne Hills Mall
New ShopRite Store to be Developed at 29-acre Shopping Center
WAYNE, N.J., Nov. 12, 2018 – Steve Hittman, CEO of Crossroads Companies, LLC (Crossroads) is pleased to announce the firm has entered into a long-term ground lease with Levco Associates, owner of the Wayne Hills Mall in Wayne, NJ. Plans are for Crossroads to construct a new 79,540-square-foot Inserra ShopRite store at the 29-acre Wayne Hills Mall. The Planning Board originally approved redevelopment plans for the property in 2016.
Work is underway to demolish a 103,000-square-foot vacant retail building in the shopping center. Site work and building construction will commence spring 2019, according to Crossroads. ShopRite is currently located in Regency Center’s Plaza Square at 625 Hamburg Turnpike in Wayne, NJ. Construction of the new ShopRite store is scheduled to be completed prior to Thanksgiving 2019. Crossroads will re-let the 60,000-square-foot ShopRite store at Plaza Square upon relocation.
“We are pleased to conclude a deal with Inserra Supermarkets,” said Hittman. “The relocation will provide the Township of Wayne’s 55,000 +/- residents with a brand new, larger store with upgraded amenities while keeping the same ShopRite brand that customers have grown to love and trust. This is an excellent location that provides ease of access and ample parking, and it will allow ShopRite to expand its produce, organic and other product offerings.”
Crossroads Companies, established in 2001, is based in Mahwah, NJ. One of the region’s most active developers of supermarket-anchored centers, Crossroads provides an array of development-related services assisting retailers and property owners to achieve strategic objectives.
For further information, contact aboutus@xroadsre.com or call 201-252-2890 x 200.