EATONTOWN - With Monmouth Mall set to begin its biggest transformation in decades , Boscov's, one of its anchor stores, is not going anywhere and will remain at the reconfigured shopping center, the department store's top executive said Monday.
"I'm excited about that," said Jim Boscov, chairman and chief executive officer of Boscov's. "You've got some malls that are struggling and nothing's happening, and in this case, you've got a developer who's investing millions of their own dollars to improve it and make it even more exciting."
Boscov's leases a three-story 100,277-square-foot store at Monmouth Mall. In 2023, it completed a $10 million renovation project that moved offices and storage space to the third floor and consolidated the sales areas to the first and second floors without reducing the store's selling space.
Boscov's, based in Reading, Pennsylvania, has 51 stores in nine states, including a store at Ocean County Mall in Toms River. It first came to Monmouth Mall in 2001, but later closed the Eatontown store in 2008 after the company filed for bankruptcy.
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Boscov's was reborn in September 2009 after Albert Boscov, the son of its founder, led an ownership team that took control of the chain. Boscov set his sights again on Monmouth Mall, which had been a successful store for Boscov's, and it reopened in 2011. He died in 2017 at age 87 after battling cancer .
Jim Boscov, Albert's nephew , recently visited the Eatontown store to assure customers and employees that it will remain open. "We're doing very well," Boscov told What's Going There. "We're gonna be there for 100 years more because of the relationships they've established with customers. You've got very, very loyal customers and very, very good co-workers there."
Boscov's will remain an anchor tenant in the new mall, which will be renamed Monmouth Square. Workers will demolish the mall's center group of stores, detaching and leaving Boscov's as a standalone building. Mall owner Kushner Cos. will also demolish the now-vacant JCPenney store.
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"I'm awfully pleased that we've got an active and positive-thinking developer working to make the place more exciting," Boscov said. "I think that's what it takes."
The plan will replace Monmouth Mall with 1,000 apartments and about 900,000 square feet of retail, down from the 1.5 million square feet that's there now. Most of the four-story apartment buildings will be located toward the center of the mall property, away from the mall's perimeter border with a residential neighborhood.
New tenants will include Whole Foods Market. Construction has already begun on the storefront for Barnes & Noble , which is moving to where Firebird Wood Fired Grill and La Maison Fine Furniture were located.
The mall traces its history back to 1960 when it opened as an outdoor shopping center. It was expanded and enclosed in 1975.
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David P. Willis, an award-winning business writer, has covered business, retail, real estate and consumer news at the Asbury Park Press for 25 years. He writes APP.com's What's Going There column and can be reached at dwillis@gannettnj.com. Please sign up for his weekly newsletter and join his What's Going There page on Facebook for updates.
This article originally appeared on Asbury Park Press: 'I'm excited': Boscov's sets plans for future of the transformed Monmouth Mall
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