Six years after the initiation of an ambitious redevelopment program designed to repurpose the former Burlington Center mall into a thriving mixed-use campus that contributes to the economic well-being of the greater Burlington County region, the final phase — consisting of more than 500 multifamily units — is now underway.
The effort, executed by a partnership between Clarion Partners and MRP Industrial with assistance from Moonbeam Capital Investments, and facilitated through collaboration with local New Jersey government, created warehouse/industrial and retail space that currently supports approximately 700 jobs, will contribute approximately $5 million in additional tax revenue to the local economy, and will address the critical need for affordable housing options.
Upon completion of the multifamily community, which is expected to occur at the end of 2025, the rebranded “Crossings” will support more than 2.5 million square feet of warehouse/industrial space, approximately 135,000 square feet of retail space and a 153-room hospitality component, in addition to the 500-unit multifamily community.
Approximately 1,400 new jobs are expected to be created at the Crossings at the conclusion of all development and leasing activities. This includes 900 in the warehouse/industry sector and 500 in retail/hospitality.
Clarion Partners, headquartered in New York City, has nearly $77 billion in assets under management and has developed more than 250 million square feet of industrial space since its founding in 1982. Baltimore-based MRP Industrial, considered among the most active developers of warehouse/industrial buildings across the Northeast, has delivered more than 32 million square feet of space since 2013. Moonbeam Capital Investments, parent company of Burlington Center’s former owner, is based in Las Vegas and, at its peak, had owned more than 20 million square feet in its commercial and residential real estate portfolio
“The Crossings was made possible by the cooperation of Burlington Township and county elected officials, who recognized the opportunity to transform a blighted shopping mall into an integrated, vibrant and economically viable mixed-use development that satisfies the needs of a wide diversity of stakeholders,” Dan Hudson, managing principal of MRP Industrial, said. “Our plan was deliberate and intentional, and was based on critical feedback and input from the local community and key representatives to ensure that the development plan satisfied the region’s long-term vision and approach to redevelopment initiates. We believe that the Crossings will serve as a national model for smart growth strategies that involve public-private partnerships working together to achieve goals that best meet the needs of the community.”
