Rivers Edge Plaza, Haverhill, MA

GLA: 100,000 S/F

Major Tenants: Market Basket, CVS, Fashion Bug, Payless Shoe Source
I.J. Barkan, Inc.'s first retail investment in 1983 was acquired with a vacant A & P in a distressed shopping center. A full redevelopment, including 80,000 S/F, was undertaken culminating in a totally reconfigured center anchored by a 45,000 S/F Market Basket supermarket and national chain tenant such as Fashion Bug, Payless, CVS, Family Dollar Store, and others. I.J. Barkan, Inc. is general partner, manager, and leasing agent.

The Barkan Family acquired the RiversEdge shopping Center in 1983, and has held controlling interest since then. I.J. Barkan, Inc. has overseen several major expansions and repositionings, culminating in its present dual anchored status, Market Basket and Building 19. It is a very successful local and regional retail development.

The City of Haverhill has encouraged the ownership of the center and the anchor stores to consider a mixed use project which takes advantage of the potential recreational and residential uses related to the long and attractive Merrimack River frontage associated with the property. This is an on-going process, which may yet lead to another and exiting stage in the property’s history.

In 2006 the Barkans formed a new joint venture ownership structure for this property with one of the largest retail property owners in the world, Kimco Realty, a NYSE REIT.