Positioning Retail Real Estate for a New Generation

September 27, 2013


Premium Pet Products Purveyor Occupies 13,640–square–foot in–line Space

HAMILTON TWP., N.J., Sept 27, 2013 – Petco, the nation’s leading pet supply retailer, has celebrated the grand opening of its newest store, occupying 13,640 square feet at Hamilton Plazain Hamilton Twp. Levin Managementis the 175,515–square–foot property’s managing and leasing agent. Petco, with more than 1,150 stores nationwide, offers more than 10,000 pet–related products for dogs, cats, fish, reptiles, amphibians, birds and small animals, with a focus on deliveringa high level of customer service and a fun and family–oriented shopping environment.

Levin was represented by Michael Cohen, vice president of leasing, and Brian Schuster with Ripco served as the tenant's broker in the transaction.

“The Mercer County area has a growing and diverse population of students, families, retirees and professionals,” said Cohen. “With its central location in this market, Hamilton Plaza is a perfect fit for Petco’s furtherexpansion in this market.”

“Big box specialty pet stores offer both a broad selection of premium pet products and affordable price points,” said Matthew K. Harding, Levin’s president. “Petco’s unique and proven business model caters to the pet–friendly nature of local shoppers, and further enhances the retail offerings of this center.”

The Petco grand opening follows additional openingsthis year by Rainbow, which occupies 7,590 square feet, and Let’s YO!, 2,530 square feet. Anchored by ShopRite, which recently expanded from 53,000 square feet to 86,000 square feet, and a 20,400–square–foot A.C. Moore store, Hamilton Plaza also features such retailers as Sleepy’s, Dollar Tree, Hallmark, New Wave Wireless, Moe’s Southwest Grill and Texas Roadhouse.

Situated at the intersection of Route 33 and White Horse–Hamilton Square Road, Hamilton Plaza serves a growing residential market of more than 170,000 people in a five–mile radius, with an average household income of nearly $89,000 and has a daily traffic count that exceeds 48,000 vehicles. Hamilton Plaza recently underwent Levin Management/Petco Opens at Hamilton Plaza/Page2 significant common area upgrades, as well as the addition of two pad sites and a 10,000–square–foot end cap.

“The recent tenant openings leave Hamilton Plaza with just one in–line vacancy of 4,456 square feet,” said leasing representative Gloria Mercado. “We are also marketing a pad opportunity of 3,075 square feet, a new developmentdeal that includes a double drivethrough. We are seeing a great deal of interest in these opportunities and expect to have additional announcements shortly.”

Having celebrated its 60th year in 2012, Levin Management is one of the nation’s leading retail real estate services firms, with a strong focus in the northeastern United Levin Management/HomeGoods Flemington/Page 2 States and an owner’s approach to the business. Today, the North Plainfield, N.J., company offers a full range of services for a diverse 90–property, 12.5 million–squarefoot portfolio. These assets include neighborhood, community, lifestyle and power centers, as well as enclosed malls, downtown storesand mixed–use projects in New Jersey, New York, Pennsylvania, Virginia, and NorthCarolina. Levin specializes in repositioning, retenanting and renovating retail properties – areas that have become particularly vital for today’s institutional, fiduciary and individual property owners.