Positioning Retail Real Estate for a New Generation

June 17, 2020

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Village of Pelham Manor’s Fairway Market has New, High-profile Ownership

Village Super Market Buys Popular, 75,000-SF Post Road Plaza Store

VILLAGE OF PELHAM MANOR, N.Y., June 17, 2020 – A popular Village of Pelham Manor supermarket is under new, high-profile ownership, bolstering its position as a go-to for the regional community, according to Levin Management Corporation (LMC). The lease to the 75,000-square-foot Fairway Market at Post Road Plaza recently sold at auction to New Jersey-based Village Super Market Inc., an established grocery operator with more than three dozen stores in its portfolio.

“Fairway Market has been a neighborhood landmark since opening at Post Road Plaza in 2008,” said Matthew K. Harding, chief executive officer of LMC, the property’s leasing and managing agent. “With its quality products and commitment to value, the store is well known among consumers in the greater Westchester County area.”

With roots dating back to 1937, Village Super Market operates a chain of 30 supermarkets under the ShopRite name in New Jersey, Maryland, New York City and eastern Pennsylvania, as well as three specialty markets under the Gourmet Garage brand in New York City. In addition to its acquisition of the Post Road Plaza Fairway Market, the organization purchased four additional Fairway locations in New York City as part of a bankruptcy auction.

“The grocery sector is playing a vital role in supporting communities during the current, challenging climate,” said Harding. “For Post Road Plaza and its shoppers, the involvement of a well-established and well-respected regional operator is great news. LMC and Village Super Market are long-time neighbors, headquartered in North Plainfield and Springfield, N.J., respectively. I can attest, first-hand, that this company’s reputation and commitment to excellence are impeccable.”

In addition to Fairway Market, the 258,000-square-foot Post Road Plaza features a diverse lineup of tenants including Dave & Buster’s, 24 Hour Fitness, HomeGoods, Modell’s, GNC, Lane Bryant, Hallmark, Citibank, Marshalls Shoes, Panera Bread and Smashburger. Located at the junction of U.S. 1, Pelham Parkway and the Hutchinson River Parkway, Post Road Plaza serves a growing residential population of more than 1.1 million people within a five-mile radius.

For nearly seven decades, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The company today maintains a diversified, retail-focused portfolio of nearly 110 properties totaling almost 15.5 million square feet in the Northeast and Mid-Atlantic states – including a notable proportion of grocery-anchored centers. 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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