4,000 SF Store, Eight-Pump Gas Station Slated to Open by End of Year
HANOVER TOWNSHIP, NJ – JMF Properties, a leading New Jersey development company specializing in transit-oriented projects, urban retail centers and suburban commercial properties, and partner RD Management LLC, one of the nation’s largest privately held real estate development and management organizations, announced today that construction of a new 7-Eleven convenience store and gas station is underway in Hanover Township.
The development partners recently broke ground on the project at Cedar Village, a 19-acre retail center anchored by Lowe’s Home Improvement at 230 E. Hanover Ave. The new 7-Eleven convenience store will be 4,000 square feet and include a gas canopy with eight pumps, offering a total of 16 fueling positions. One pump will offer diesel fuel. Self-service air and vacuum will also be onsite.
The estimated completion date of the project is December 2022, according to Joe Forgione, the Founder and Principal of JMF Properties.
“This brand new 7-Eleven will provide Morris County residents with a convenient new option for their shopping and fueling needs,” Mr. Forgione said. “Along with our partner, RD Management, we identified 7-Eleven as a business that would thrive in this location and contribute a desired service to local residents and motorists, including visitors to Mennen Arena as well as contractors and other professionals who make frequent trips to Lowe’s. We’re thrilled to announce this groundbreaking and look forward to the success of the business for many years to come.”
7-Eleven is rising on property once owned by aerospace and defense company Northrop Grumman. The property was vacated in 1985 and remained vacant until the JMF/RD team remediated the site and created the Cedar Village retail center. The property’s anchor tenant, Lowe’s, opened its doors to customers in 2019.
The addition of the 7-Eleven with gas will further distinguish Cedar Village, a highly visible shopping center in a high-income area on a heavily traveled thoroughfare that connects Hanover Township to Morris Plains, Florham Park, Morristown and other local communities, as well as Route 24, Route 202 and Route 287. It is across the street from Mennen Sports Arena, a popular Morris County recreation and sports destination with three indoor ice rinks.
“We are excited to bring such a well-liked national tenant to the market on a full scale with eight gas pumps in addition to a freestanding convenience store. The new location on E. Hanover Avenue will allow for easy access to the community and those traveling on Routes 202 and 287,” said Richard Birdoff, Principal and President of RD Management.
Cedar Village is one of several retail projects JMF Properties and RD Management partnered on in recent years. In March 2019, the developers opened Harbor View Marketplace in Bayonne, which includes retailers such as Costco, Starbucks, CVS, Lidl and a new LA Fitness currently under construction. Later that same year, JMF and RD opened Waterview Marketplace in Parsippany, home to Whole Foods, Homesense, DSW, Old Navy, Ulta Beauty, The Paper Store, MedFirst Urgent Care, Orangetheory Fitness, and Shake Shack. JMF and RD are also transforming the former Colgate-Palmolive campus in Morris Township into Morris Marketplace, currently one of the largest redevelopment projects in New Jersey, in partnership with Accurate and DeVimy Equities. Additional projects will be announced in the near future.
2022 is also a busy year for JMF’s transit-oriented, multifamily properties. JMF announced the lease up of the newest community in its signature “Clarus” luxury brand, Clarus Glen Ridge, in March, less than six months after it opened for pre-leasing. Two more luxury rental communities are in development and will open within the next year. The American, an upscale rental community with direct access to the Morris Plains train station, will launch leasing later this year. Clarus Berkeley Heights is under construction and will open in 2023 next to the Berkeley Heights train station.
About JMF Properties
Under the leadership of Joseph M. Forgione and his 25 years of experience in the industry, JMF Properties has developed a reputation for creating residential, retail, and mixed-use communities of lasting value in some of the state’s most desirable locations. Mr. Forgione has developed more than 2,500 residential units and multiple commercial and retail properties during his career, with more than a dozen current projects totaling over 3.5 million square feet of retail and 1,800 residential units, with another 3 million square feet under development. Projects range from transit-oriented developments to urban and suburban retail centers to sprawling office parks.
As a former long-time Commissioner of the New Jersey Sports and Exposition Authority, a graduate of civil engineering, and a member of the New Jersey Civil Engineers, Mr. Forgione understands the unique responsibilities and needs of all stakeholders involved in the development process, including local government officials, architects, construction managers, investment partners, community members and end users. This holistic approach to development has been vital to JMF’s success, allowing the company to identify under-valued assets, forge strategic partnerships, and develop dynamic residential and retail properties that enhance their host communities, including the first residential community designed for WELL certification in New Jersey.
Mr. Forgione believes in good corporate citizenship. He is a founding board member of REED Academy School for Autistic Children in Oakland, NJ and a long-term fundraiser for Employment Horizons Corp, an organization that provides job training and placement services to people with disabilities and other barriers to employment. He constructed and donated five homes for Arc/Morris County chapter and recently constructed a group home for Cerebral Palsy of New Jersey, which he donated to the organization in 2020. He is a supporter of engineering education in New Jersey and Don Bosco Preparatory High School, where a new math, science and robotics facility, the Forgione Family Engineering Center, will open in 2022. www.jmfproperties.com.
About RD Management
Consistently ranked among the nation’s largest, privately held real-estate development and management organizations, RD Management owns and operates a portfolio of 150+ assets throughout the United States and Puerto Rico, with properties spanning the mixed-use, retail, office, residential, hospitality, self-storage, senior/student housing, industrial, and government sectors. RD Management specializes in development, redevelopment, and acquisitions in key markets and maintains in-house expertise in leasing, property management, construction, accounting and finance, legal, and information technology services. With more than 40 years of experience, RD Management has a proven track record of enhancing the value of its properties through hands-on management, renovation, and expansion. For more information visit www.rdmanagement.com.