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Levin Management Reports Solid First Half

Firm's Activity Includes 200,000+ SF of New Lease Transactions, Renewals

 
 
Hamilton Plaza
Hamilton Plaza
PRLog - Jul. 30, 2012 - Levin Management, one of the nation's leading retail real estate services firms, experienced robust levels of leasing activity in several regional markets throughout the first half of 2012, executing more than 200,000 square feet of transactions. The firm's 95-property, 12.5 million-square-foot shopping center portfolio is among the largest in the Northeast United States.

"The retail sector continues to show signs of improvement and move further toward recovery," said Matthew K. Harding, president and chief operating officer of Levin Management. "Reflecting this positive trend, we have completed a variety of new leases and renewals in recent months."

Levin Management's transactions since January include:

NEW JERSEY

   In Ocean County, leasing activity has been strong. At Bayshore Plaza in Barnegat, Big Lots - the seller of everyday consumables and housewares, as well as toys and seasonal goods - leased 31,612 square feet of space. Levin also secured a lease renewal with Atlantic Wireless, which occupies 2,000 square feet at the property.
   HomeGoods leased 24,000 square feet to anchor the 100,000-square-foot retail component of Edgewater Harbor, a mixed-use waterfront redevelopment on River Road in Edgewater. Other recent lease signings there include Five Guys Burgers and Fries (2,300 square feet), Floris Nails and Spa (2,000 square feet), European Wax (1,261 square feet) and Great Clips (960 square feet). Edgewater Harbor also will include 480 high-end loft and apartment residences and a 1,900-foot river walk along the Hudson.
   Let's Yo, the yogurt franchise, leased 1,650 square feet at Blue Star Shopping Center in Watchung, while two existing tenants, TGI Friday's and Joyce Leslie, renewed their respective 8,200-square-foot and 7,300-square-foot leases. The 419,000-square-foot property is located on the Route 22 retail corridor, between Terrill and Bonnie Burn Roads.
   Levin secured two renewals at Somerset Shopping Center in Bridgewater. One involved Pier 1 Imports (9,400 square feet), which is gearing up to launch an interior and exterior renovation there. Additionally, TGI Friday's renewed its 7,300-square-foot commitment. The popular, 214,000-square-foot Somerset Shopping Center is located at the junction of US 202, US 206 and State Highway 28.
   Eastern Mountain Sports committed to 13,013 square feet of space at North Village Shopping Center in North Brunswick. The outdoor gear and equipment retailer is an anchor tenant at this center, which is located on Route 1 South.
   CVS renewed its 10,600-square-foot lease at Chatham Plaza. The store anchors this 31,000-square-foot neighborhood shopping center, located at 449-465 Main Street in downtown Chatham.
   Dollar Tree opened in 9,528 square feet at Fair Ground Plaza in Mount Holly. The 179,000-square-foot shopping center sits on High Street (Route 541) at the intersection of Woodpecker Lane.
   At Hamilton Plaza in Hamilton Twp., where Levin recently completed a major renovation, Nu-Wave wireless by Sprint joined the tenant roster, leasing 2,600 square feet. Additionally, Hallmark renewed its 4,400-square-foot commitment at the 176,000-square-foot property, which is located at the intersection of Route 33 and White Horse-Hamilton Square Road and anchored by a new 70,000-square-foot ShopRite.
   Apparel and accessory retailer Lane Bryant, the most recognized name in plus-size women's clothing, leased 5,100 square feet of space at Paramus Place in Paramus. The center, located on Route 4, is a popular Bergen County shopping destination near Route 17 and the Garden State Parkway.
   Class Fitness leased 5,058 square feet at The Hills Village Center in Bedminster. The 110,000-square-foot shopping center is part of The Hills, a mixed-use retail and residential development.
   Golden Castle Jewelers leased 2,000 square feet at CVS Plaza in Sparta. The commitment brought the 17,000-square-foot property to 100 percent occupancy.

NEW YORK

   Located on heavily traveled Jericho Turnpike, just east of the Sunken Meadow Parkway in Commack, Mayfair Shopping Center was the site of several leases and renewals this year. Popular girls' clothing store Justice committed to 3,113 square feet, Bolton's leased 3,000 square feet, and Verizon Wireless opened in 2,500 square feet. Tenants that signed lease renewals include Mayfair Liquors (3,894 square feet), Edward Alan Big and Tall (2,430 square feet) and Excel Shoe Repair (500 square feet).
   Levin secured a 5,000-square-foot lease with plus-size apparel and accessory retailer Lane Bryant at Post Road Plaza in Pelham Manor. The newly renovated, 280,000-square-foot shopping center is located at the intersection of US 1 (Boston Post Road), Pelham Parkway and the Hutchinson River Parkway.
   The restaurant sector has been experiencing renewed growth as national chains continue seeking out new locations in prime retail markets. Smashburger, the nation's fastest-growing better burger restaurant, brought its fresh approach to Post Road Plaza in Pelham Manor, leasing 2,282 square feet of space.

PENNSYLVANIA

   Michael's Stores Inc. leased 22,000 square feet of space at Fairlane Village Mall in Pottsville, joining a diverse tenant mix of national, regional and local retailers there. The arts and crafts retailer's long-term commitment came on the heels of Kohl's Department Stores opening at the 405,000-square-foot property.

NORTH CAROLINA

   Lumber Liquidators signed a new lease at Hickory Plaza in Hickory. The nation's largest specialty retailer of hardwood flooring leased 6,000 square feet of space, representing its ninth store in North Carolina. Additionally, All My Friends pet store renewed its 2,000-square-foot commitment at the 133,261-square-foot center.

"These year-to-date achievements demonstrate our firm's ability to attract quality retailers while building solid relationships with existing tenants to meet their day-to-day needs," noted Michael Cohen, Levin's vice president of leasing. "Our activity came from a variety of sectors - including dining, specialty apparel and home merchandise, among others. We expect to build on this momentum throughout the remainder of 2012."

With headquarters in North Plainfield, N.J., Levin Management serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Virginia, North Carolina and Florida. The company taps into the associated, expansive tenant roster to conduct a biannual Retail Tenant Survey that provides insight on industry trends and sales performance.

Celebrating its 60th year in 2012, Levin Management offers a full range of services including leasing, property management, accounting, construction management and marketing. The company specializes in repositioning, re-tenanting and renovating retail properties - areas that have become particularly vital for today's institutional, fiduciary and individual property owners.

Photo:
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Contact Email:
***@caryl.com
Source:Levin Management
Phone:201-796-7788
Zip:07060
State/Province:New Jersey - United States
Industry:Real Estate, Retail
Tags:Leasing, management, retail real estate, new jersey
Shortcut:prlog.org/11937669
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