MoonBeam Logo

 
Burlington Center to get new name

Burlington Center to get new name

By: Chris Bishop

January 3, 2014

Burlington Country Times

BURLINGTON TOWNSHIP — As retailers in the region look forward to a better year, the new owners of the Burlington Center mall on Route 541 are planning a major restructuring of the long-struggling shopping center.

How about a name change with which to begin?

The center will get a new name — the Marketplace at Burlington, according to one of the executives with the new owners.

The other major development at the mall, which opened in 1983 to much-acclaimed hopes for retail success, has to do with the former Macy’s anchor.

Moonbeam Capital Investments, a Las Vegas private equity group that acquired the 41.7-acre site at auction in June for an undisclosed price, has now bought the Macy’s anchor store for $1 million.

Shawl Pryor, senior vice president of Moonbeam, said the Macy’s section would be torn down sometime later this year, but he did not disclose what new tenants would occupy the space.

A spokeswoman for Macy’s did not return calls seeking comment Friday.

Pryor said Moonbeam, which boasts a 9-million-square-foot commercial property portfolio across the United States, wanted to bring in new retailers who would transform the mall from its status as an ailing shopping center into a thriving mecca with big-box retailers and restaurants. He would not name the eateries that were eyeing the Burlington Center.

Pryor would not specify the retailers that would be taking over in the former Burlington Center later this year.

The food court would stay, and restaurant chains will join the mix, Pryor said. However, Pryor said he could not identify what new eateries would be signing leases at the mall.

Pryor would not indicate the dollar investment that Moonbeam was making in the center.

Walt Corter, administrator for Burlington Township, said the township was thrilled that Moonbeam was moving forward on the redevelopment plans at the mall.

“We’re excited that the whole 541 corridor is starting to pick up,” Corter said. He referred to the new Chick Fil-A that is being constructed at the former Kmart shopping center area. “It’s almost completed. ShopRite should be starting construction anytime soon.”

The Burlington Center has struggled in recent years as more retailers, such as Liberty Travel and others, have left the center.

 

Township officials have expressed hopes that the redeveloped Burlington Center will spark a total revival along the Route 541 corridor.

 

Bishop, Chris (2013, Jan 3), Burlington Center to get new name, Burlington Country Times, (January 9, 2013), http://www.burlingtoncountytimes.com/business/burlington-center-to-get-new-name/article_171ef952-56e1-5aee-8727-f96290ed3541.html