Simon Property Group, Inc. and Kravco Simon Company announced plans for a major expansion and redevelopment of the Quaker Bridge Mall in Lawrenceville, NJ. Quaker Bridge Mall, located on U.S. Route 1, is a 1.1 million ft² property, anchored by JCPenney, Lord & Taylor, Macy's and Sears.
The expansion will be highlighted by the construction of new department stores and other ancillary structures which will result in an additional 650,000 ft² of gross leasable area. Decked parking to accommodate the extra shopper demand, will also be added.
"These enhancements, both in terms of the significant expansion and total renovation, are going to quickly accelerate Quaker Bridge Mall into the elite circle of retail properties in the tri-state area," said Robert Spaulding, senior vice president of development at Simon. "We're also pleased that the project will create hundreds of new jobs for the community both in terms of construction jobs and permanent employment."
Spaulding added that in addition to the renovation of the existing mall, the tenant mix would be upgraded. Spaulding said that many top retailers are excited about bringing their latest concepts to an enhanced Quaker Bridge Mall. "Upscale fashion retailers are especially anxious to explore the opportunities at Quaker Bridge," Spaulding said.
Source: Simon Property Group