Wrecking and Reviving
Want to get a jump start on upcoming deals? Meet the major New York City players at one of our upcoming events!
|Hamilton Plaza, a 184k SF shopping center on Route 33 in Hamilton Township, NJ, has commenced its $15M renovation and expansion with a bang. The arrival of a wrecking crew and their equipment Tuesday formally launched the project, which will turn the property into a brand-new shopping center. The partial demolition of a portion of the current building, above, started the total renovation, which includes the expansion of its ShopRite supermarket to nearly 86k SF. Other improvements: an upgrade to its traffic flow, a new faÃ§ade and signage, redesigned landscaping, and the addition of a 10k SF end cap and two new pad sites, the latter targeting a bank and a restaurant.|
|Above, Levin Management Corp. project manager Russell Sager, property manager Lori Travers, and president/COO Matthew Harding at the site. Now's the ideal time to be renovating retail properties, Matthew says: consumer spending is bouncing back, construction costs are lower, there's ample financing for projects like this, and materials and labor—both in short supply during the boom years—are readily available. Besides ShopRite, Hamilton Plaza is co-anchored by AC Moore and has tenants like Fashion Bug, Dollar Tree, and Hallmark.|