NEW JERSEY—Mack-Cali Realty Corporation has entered into a ground lease with Wegmans Food Markets Inc. at its undeveloped site located at Sylvan Way and Ridgedale Avenue in Hanover Township. Subject to receiving all necessary governmental approvals, Wegmans intends to construct a store of approximately 140,000 sq. ft. on a finished pad to be delivered by Mack-Cali.
Mack-Cali was represented in the transaction by Mark Needle of Triumph Realty Group.
Mack-Cali intends to ground lease the remainder of the site to other retailers for approximately 40,000 sq. ft. of retail uses.
Wegmans Food Markets Inc. is an 80-store supermarket chain with stores in New York, Pennsylvania, New Jersey, Virginia, Maryland and Massachusetts. The family-owned company, founded in 1916, is recognized as an industry leader and innovator.