Firm Executes 180,000+ SF of New Lease Transactions, Renewals between October and February
NORTH PLAINFIELD, N.J., Mar. 17, 2015 – Levin Management, one of the nation's leading retail real estate services firms, experienced healthy levels of leasing activity in several markets during the last six months, executing more than 180,000 square feet of renewals and transactions. Levin maintains a diverse 95-property, 13 million-square-foot shopping center portfolio in New Jersey, New York, Pennsylvania, Virginia, Massachusetts and North Carolina.
Grocers, affordable fitness chains, off-price retailers and fast-casual restaurants remain among the most active categories looking to establish or expand their footprint in Levin’s market area, according to Matthew K. Harding, company president. “In the face of strengthening demand, vacancies are declining and rents are trending up at quality properties,” he said. “Spaces left by retailers who did not survive the downturn and resulting shakeout are backfilling quickly with tenants in the aforementioned active categories as well as a diverse range of health, beauty and service providers.”
Levin’s largest new lease transactions included a 16,000-square-foot commitment by Retro Fitness at Twin City Shopping Center in Jersey City, N.J., and a 15,000-square-foot commitment by Tuesday Morning at Paramus Place in Paramus, N.J. Other noteworthy leases included a 9,300-square-foot commitment by Dollar Tree at Warren Plaza in Washington, N.J.; a 5,800-square-foot lease by Simply Fashion at Liberty Center I in Erie, Pa.; and a 4,500-square-foot lease by Panera Bread at Post Road Plaza in Pelham Manor, N.Y.
“We are excited with the volume of transactions executed during the last six months, and are pleased that this tremendous leasing momentum is continuing,” added Harding. “Retail leasing activity continues moving in a positive direction, a trend we expect to see continue as shopping centers seek out new ways to improve and expand their tenant mix.”
Along with increased leasing activity, Levin continues to grow its retail portfolio. The firm has been awarded a number of significant new leasing and management assignments in recent months, including properties in Bordentown, Eatontown, Edison, Hackensack, Manahawkin and Whiting, N.J.; Cheltenham and West Chester, Pa.; and Plymouth, Mass.
With headquarters in North Plainfield, N.J., Levin serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, street retail, downtown stores and mixed-use projects. In business for six decades, the company taps into its associated, expansive tenant roster to conduct Retail Sentiment Surveys three times each year that provide insight on industry trends and sales performance.
Levin has earned a long list of coveted awards over the years. Since 2011 alone, the firm was ranked 30th among Top US Real Estate Companies and named three times among the nation’s top property managers by Commercial Property Executive magazine, placed among the nation’s top 10 redevelopers by Chain Store Age, credited as one of the state’s top 10 real estate developers by New Jersey Business magazine, and ranked third on NJBIZ's Top Property Management Companies list and seventh on NJBIZ's Top Commercial Real Estate Developers list.