Listen to this articleA Route 22 retail center has been adding new tenants and upgrading its spaces for occupants and shoppers alike. As those efforts persist, the Blue Star Shopping Center secured new redevelopment funding.
G.S. Wilcox & Co. announced Sept. 11 arranging $26 million financing for the work in Watchung. According to the Morristown-based female-founded commercial real estate mortgage banking company, Principal David Fryer arranged the full-term, interest-only loan on highly attractive terms through a life insurance company of the firm’s.
Levin Management Corp. serves as managing and leasing agent at the 420,000-square-foot center. According to Placer.ai data, the property recorded 293,000 visits in August 2025.
LMC has completed Phase 1 of its multifaceted redevelopment plan at the property, with Phase 2 actively underway.
A new, expanded ShopRite serves as flagship anchor at Blue Star. The 72,000-square-foot Village Super Market Inc. store opened in April.
Meanwhile, as the work continues on Phase 2, ShopRite’s former space will transform to relocate another Blue Star tenant: Marshalls.
LMC also continues to expand the tenant roster at the retail site. Just this week, the North Plainfield-based real estate services company announced Burlington and Taco Bell will join the lineup. Other recent additions include Planet Fitness and KidStrong.
G.S. Wilcox said announcements for several additional dining options are due soon.
“We are pleased to have arranged this financing for our longstanding client and to once again deliver certainty of execution through one of our life insurance company relationships,” noted Fryer.
