Positioning Retail Real Estate for a New Generation

January 11, 2019

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Taco Bell Construction Progress Marks Another Milestone at Twin City Shopping Center

Jersey City, N.J., Property Enjoys Leasing Success Following Repositioning

JERSEY CITY, N.J., Jan. 11, 2019 – Construction progress for fast-food restaurant chain Taco Bell at Twin City Shopping Center marks another significant milestone in the transformation of this Jersey City shopping destination. As exclusive managing and leasing agent, Levin Management Corporation (LMC) has taken major steps to reposition the 94,000-square-foot, grocery-anchored strip center.

A series of renovations at Twin City Shopping Center over the past few years – including a new façade, pylon signage, stonework and sidewalk refurbishments – have significantly enhanced the property’s curb appeal. This transformation has been instrumental in securing a wave of new leases at the center, including Taco Bell, which committed to 2,100 square feet in a ground-up expansion at the property.

Grand openings are planned in the coming months for Taco Bell and three more new Twin City Shopping Center tenants: indoor play center Kidz Village (14,000 square feet), wireless voice and data communications services provider T-Mobile (1,500 square feet), and wireless accessories and repair retailer 1HOURREPAIR.com (1,500 square feet). Earlier this year, Popeye’s Louisiana Kitchen opened a 2,000-square-foot restaurant at the property. Twin City Shopping Center’s diverse retail mix also includes Aqui Market, Retro Fitness, Everything $.99, Wendy’s and Dunkin’ Donuts, along with a host of typical neighborhood conveniences.

“New Jersey is filled with good-news examples of how properties can leverage adaptation to survive and thrive in today’s changing retail environment,” said Matthew K. Harding, LMC chief executive officer. “With the right oversight, shopping centers can remain competitive decade after decade. The leasing resurgence we are experiencing at Twin City Shopping Center is a prime example of how forward-looking landlords and operators are successfully ‘rethinking’ properties to keep them relevant and focused on community needs.”

Twin City Shopping Center’s ideal location on the Jersey City/Bayonne border further adds to its appeal. Notably, the center sits just off the newly upgraded/reopened Exit 14A of the N.J. Turnpike on the intersection of Garfield Avenue and Broadway, and is easily reached by a network of local thoroughfares. The center serves a growing residential population of more than 179,000 people within a three-mile radius. Approximately 35,000 vehicles pass the property each day. Nearby development is enhancing the densely populated community’s retail and residential profiles.

For more than 65 years, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm today maintains a diversified, retail-focused portfolio of approximately 105 properties totaling 15 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

Read 283 times Last modified on Wednesday, 16 January 2019 16:15