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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,

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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