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Metrovest
to build shopping center
Continuing to expand
its presence in the New Jersey marketplace, Metrovest
Equities, Inc. has purchased approximately six acres
of land along Route 46 in Ridgefield.
The
company plans to build a 50,000 s/f shopping center
on the site.
The tract, which is located along the
westerly portion of the highway,
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was purchased from
a private individual who owned the site for 50 years.
No financial terms were announced.
"We felt this site had tremendous
retail potential because of its heavy traffic flow and
its proximity to the New Jersey Turnpike and the affluent
communities of Bergen County," said George Filopoulos,
president of Metrovest Equities, Inc.
"The center's visibility and access
will appeal to a wide array of retail tenants."
Metrovest Equities,
Inc is involved in several redevelopment projects in
New Jersey, including the largest historic redevelopment
project in the state's history. It is transforming the
former Jersey City Medical Center into The Beacon, a
luxury condominium community.
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