Positioning Retail Real Estate for a New Generation

March 12, 2020

  • Posted on:  Friday, 13 March 2020 22:04
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Levin Management Arranges Lease with Kids Kingdom Playhouse at Morrell Plaza in Philadelphia

10,000 SF in Recent Commitments Mark Property’s Evolving Tenant Mix

PHILADELPHIA, March 12, 2020 – A 4,000-square-foot lease with children’s activity center Kids Kingdom Playhouse at Morrell Plaza marks another milestone in the ongoing evolution of this Philadelphia retail center. As exclusive managing and leasing agent, commercial real estate services firm Levin Management Corporation (LMC) is leading a re-leasing program that has expanded and diversified the co-tenancy at the 103,000-square-foot property.

LMC Senior Leasing Representative Sidney Singer arranged the Kids Kingdom Playhouse lease. In recent months, LMC has announced approximately 10,000 square feet in leasing at Morrell Plaza, also including commitments by Nutrition 215, which sells blended nutritional drinks; boutique indoor cycling concept Northeast Cycle; national chicken wing chain Wingstop; and Freedom Credit Union.

The latest, family-centric tenant brings a new element to Morrell Plaza, giving consumers yet another reason to visit, according to Singer. “In the current retail environment, shopping centers must adapt in order to remain successful, and our recent leasing activity at Morrell Plaza – which involves adding a unique blend of dining, fitness and recreation-focused tenants – illustrates this trend,” he said. “Morrell Plaza is a prime example of how successfully ‘rethinking’ properties keeps them relevant and focused on community needs.”

Located directly on Frankford Avenue/Route 13 in Philadelphia, Morrell Plaza is anchored by a 63,000-square-foot high-volume ShopRite supermarket. The tenant roster includes a mix of national, regional and local retailers and service providers including Rite Aid, T-Mobile, Supercuts, Dunkin’ and Yamato Sushi & Hibachi, among others. The property serves a three-mile residential population of more than 134,000 people, and a daytime population of 51,000 within those same three miles.

Three in-line space availabilities (1,200 SF, 1,850 SF and 2,000 SF) remain at Morrell Plaza.

For nearly seven decades, North Plainfield, N.J.-based 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.

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