A Cherry deal is signed by Wegmans Foods.

Edgewood Properties announced that it has leased 130,000 s/f of retail space at the new Cherry Hill Towne Center on Route 70 and Haddonfield Road in Cherry Hill, N.J. to upscale supermarket Wegmans Food Markets. This will be the third Wegmans Food Markets to open in the southern New Jersey/Philadelphia market, with additional stores currently located in Mt. Laurel and Princeton, N.J.

A joint venture between Edgewood Properties and JMP Holdings, this major redevelopment of the former Garden State Park Race Track will be comprised of two retail phases, including Marketplace at Garden State Park, a 530,000 s/f regional shopping plaza where Wegman's will be located and Towne Place at Garden State Park, a 200,000 s/f lifestyle center that will also serve as Cherry Hill's new downtown. The project will also include 1,000,000 s/ f of office space, 1,659 luxury residential units and a 150-room upscale hotel. Construction of the Marketplace phase is currently underway and is expected to conclude in early 2006.

Joseph D. Morris, vice president of commercial leasing and marketing with Edgewood Properties, commented, "We are excited to welcome Wegmans into the community's newest and most exciting regional center. This new lease signing with Wegmans reflects the partnership's strategic goal of developing intelligently throughout New Jersey, where people are able to work, shop and live in the same neighborhood. This is a great day for the residents of Cherry Hill, who are getting one of the country's best supermarkets in their town."

Representing the tenant in this lease transaction was Steve O'Malley, of Fameco Real Estate.

Cherry Hill Mayor Bernie Platt believes the planned development will enhance community life, bolster the local economy and preserve open space.

"This redevelopment will have a positive impact on all our neighborhoods and businesses, and will produce short- and long-term employment," Platt said.

"All of the people who had a part in shaping this project are to be congratulated for a superb job in what became a truly collaborative effort. We are fortunate to have such a development company as Edgewood Properties, who not only has the vision to do a world-class project of this magnitude, but also the good sense to work closely with our township professionals and the planning board to tailor it to fit our vision."