REAL ESTATE

1.5 million-sq.-ft. New Jersey mall to close

BY CSA Staff

When its last surviving tenant, Sears, closes in September, so too will the Marketplace at Burlington in New Jersey.

Once a strong regional draw in this town located between Trenton and Philadelphia, the former Burlington Center Mall owned by Moonbeam Capital LLC flourished with 1.5 million sq. ft. of retail. Now local government officials are left to seek a new use for this huge tract in the middle of their community.

“The site has become obsolete, meaning it no longer serves the retail market as an enclosed mall, and subsequently has become vacant and deteriorated,” Mark Remsa, Burlington County’s director of economic development, told NJ.com. “The site is ready for redevelopment.”

Under consideration are a mixed-use development including retail or a warehouse park.

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