Once troubled Ledgewood mall in Morris County fetches $83M

The formerly troubled Shops at Ledgewood Commons in Roxbury has sold for $83 million to commercial real estate firm Urban Edge Properties, which also owns the Bergen Town Center in Paramus.

Urban Edge closed the deal on the 448,000-square-foot mall along Route 10 in early April, according to a company earnings report . The mall saw over 369,000 visits this past April, according to metrics from placer.ai, a location data company.

“[W]e acquired two shopping centers in New Jersey… strengthening our presence in this core market and providing attractive growth and redevelopment opportunities,” Urban Edge Chairman and CEO Jeff Olson said, also referring to another property, Heritage Square in Watchung.

Ledgewood Commons features a massive Walmart Supercenter, as well as Marshalls, Burlington, Ulta, Starbucks and Chipotle. A Barnes & Noble bookstore also opened earlier this year at the mall, after shuttering four years earlier.

By the time Barnes & Noble left, anchor tenants Macy’s and Walmart had already been demolished.

Elsewhere in the reimagined shopping center, the indoor concourse of the former 600,000-square-foot mall is gone. What remains is 470,000 square feet of shopping and dining in a main building and additional pod sites.

Macy's did not return, but Walmart , which closed in 2019, has since built a larger store on the property to replace its original location, the first Morris County Walmart, which opened in 1999.

William Westhoven contributed to this report

Daniel Munoz covers business, consumer affairs, labor and the economy for NorthJersey.com and The Record.

Email: munozd@northjersey.com ; Twitter: @danielmunoz100 and Facebook

This article originally appeared on NorthJersey.com: Once troubled Ledgewood mall in Morris County fetches $83M