GlobeSt.com UPDATE: Edgewood Finalizes 281,000 SF in Retail Leases

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PISCATAWAY, NJ-Edgewood Properties, based here, has firmed up anchor commitments at two of its major shopping center projects in the Garden State. According to Joseph D. Morris, vice president of commercial leasing and marketing for Edgewood, Costco has signed on for a total of 143,000 sf to anchor the 288,245-sf Parkway 70 Plaza in Brick. The pending deal was announced in March.At the same time, Houlihan’s has signed a lease for just under 8,000 sf at Parkway 70 Plaza. The restaurant chain, reported late last year by GlobeSt.com to be in discussions with Edgewood, will be opening its first unit ever in Ocean County. Construction is expected to start later this spring for Parkway 70 Plaza, which sits along Brick’s border with Lakewood. Edgewood is targeting a summer of 2006 grand opening for the complex.Edgewood has also formally signed Wegmans Food Markets to 130,000 sf at the new Cherry Hill Towne Center in Cherry Hill, completing a transaction reported by GlobeSt.com in February. It will be Wegmans’ third store in South Jersey, joining units in Mt. Laurel and Princeton.Wegmans’ new location is part of the redevelopment of the former Garden State Park racetrack, a joint venture of Edgewood and JMP Holdings. Its two retail phases will include the 530,000-sf, under-construction Marketplace at Garden State Park, where Wegmans will be located, and Towne Place, a 200,000-sf lifestyle center. Both are part of a larger project encompassing one million sf of office space, nearly 1,700 luxury residential units and a 150-room hotel.