Wyckoff, New Jersey
Establishing a town center for an extremely affluent, no-growth suburban township, this project resulted from a long-term, collaborative rezoning of an antiquated community-based shopping center. The resulting town center format emphasizes lifestyle retailers and doubled the net leasable space of the existing center to 195,000 square feet, and added 20 middle-income residential units. The new anchor lease also includes a 78,000 square foot Stop & Shop (analogous to Safeway on the west coast).
The final project is 100% complete with a market value of approximately $95 million, or four times the pre-development valuation.