Metro Plaza at Jersey City was built by G&S on 18.4 acres located immediately adjacent to the Newport Center Mall, and what is now the hub of Jersey City’s retail, office and luxury residential markets.

At the time of its acquisition, development of Jersey City was at a standstill. G&S saw the potential for the site and convinced major stand alone retailers to pioneer the site. The site was developed as a power center consisting of a 116,000 sq. ft. BJ’s Wholesale Club, 65,100 sq. ft. ShopRite Supermarket, 40,000 sq. ft. Wiz store, and a 22,311 sq. ft. Pep Boys. Built on the former Conrail train yard, the project clearly helped to stimulate the economic revitalization of the area.

The Jersey City site has since become a significant alternative to Manhattan for new office tower and residential construction. As a result, our property is currently worth many times the value of G&S’ initial investment and is now poised for its redevelopment toward its current highest and best use.