PARSIPPANY — As reported on Parsippany Focus on November 27, (click here for full story) RD Management LLC, one of the nation’s largest privately held real-estate development and management organizations; JMF Properties; and Ripco Real Estate Corp. officially signed a lease with Shake Shack at their Waterview Marketplace, located at Route 46 and Waterview Boulevard. Shake Shack will occupy a 3,500-square-foot free standing site on the 16-acre property. The center is approximately 150,000 square feet and scheduled to open in late 2018.
“Known for its classic American menu options and lively experience, Shake Shack is sure to bring great energy to Waterview Marketplace and provide a community-gathering space for local residents and employees to eat and hangout,” said Richard Birdoff, principal and president of RD Management. “As we near completion of the center, we’re looking forward to announcing new businesses that will accompany Shake Shack and anchor tenant Whole Foods at this vibrant retail destination.”
Strategically located at the jug-handle intersection of Waterview Boulevard and Route 46 with nearby access to Routes 202, 80, and 287, Waterview Marketplace is in a high-density, high-income trade area, bordered by Mountain Lakes. It’s also surrounded by large office parks and complementary retail, with trees and lakes adjacent to the center. People from well beyond the Parsippany trade area will be able to enjoy Waterview and its shops, as it has easy access to several major highways in North Jersey.
“As a brand name restaurant with a loyal customer base, Shake Shack will be an excellent addition to the thriving mix of retail we are assembling here at Waterview Marketplace,” said Joseph M. Forgione, founder and principal of JMF Properties. “We are dedicated to the continued growth of the property and we look forward to delivering more shops, restaurants and other businesses of value to Morris County consumers.”
“We pursued Shake Shack for Waterview because they are an exciting restaurant operator on the scene right now that will generate traffic from both families and people that live and/or work in the trade area,” said Todd Cooper, co-founder of Ripco Real Estate Corp. “We are confident they will succeed at Waterview and help us create a well-rounded mix of merchants at the shopping center.”
RD Management owns 21 properties in New Jersey and has more than 150 properties in its national portfolio. Additional anchor opportunities and in-line spaces are available for lease at Waterview Marketplace. Those interested can contact Darren Sasso at (212) 265-6600 x354 or [email protected].