Levin Expands in Long Island with New Shopping Center Assignment
Firm Named Managing Agent for New Hyde Park Plaza in New Hyde Park, N.Y.
NEW HYDE PARK, N.Y., Oct. 10, 2018 – Commercial real estate services firm Levin Management Corporation (LMC) has been named exclusive managing agent for New Hyde Park Plaza, a grocery-anchored shopping center in New Hyde Park. The assignment represents the expansion of LMC’s Long Island retail portfolio, and underscores the strength of the firm’s long-time client relationships, according to Robert Carson, executive vice president.
“Our client – for whom LMC currently manages two other properties – purchased this center in January,” Carson said. “Its asset management team is familiar with our capabilities in delivering high-quality commercial real estate services. This assignment demonstrates how LMC’s ability to meet, and exceed, expectations fosters long-term business partnerships.”
The 129,000-square-foot New Hyde Park Plaza is located at Marcus Avenue and New Hyde Park Road, a heavily trafficked intersection in a main retail corridor of Long Island. The center is anchored by a high-volume ShopRite supermarket and boasts a complementary lineup of retailers, restaurants and service providers including T.J. Maxx, Party City, Chase Bank and Chipotle.
LMC will apply its best-in-class management standards to all aspects of New Hyde Park Plaza’s operation, immediately leveraging the expertise of its in-house construction team. “Our efforts here initially will focus on maintaining and enhancing the center’s curb appeal, while also orchestrating some capital improvement projects such as parking lot upgrades and re-roofing a portion of the center,” Carson said.
The New Hyde Park assignment marks the continued growth of LMC’s regional leasing and management presence following a record year of portfolio expansion throughout the Northeast in 2017 and continued momentum to date in 2018. In recent months, the firm also has been awarded several significant new assignments in Kearny, Edison, Wall and Mt. Olive, N.J., and Harrisburg, Pa.
For more than 65 years, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The North Plainfield, N.J.-based firm helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value; it has distinguished itself as a firm large enough to excel in assignments of any scale while continuing to employ a hands-on, proprietary approach in every facet of its business.
LMC today maintains a diversified, retail-focused portfolio of 105 properties totaling approximately 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. The company specializes in repositioning, retenanting and renovating real estate – areas that have become particularly vital in an increasingly competitive market. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.