Positioning Retail Real Estate for a New Generation
  • Featured Case Study

    Featured Case Study
    NORTH VILLAGE
    SHOPPING CENTER
    North Brunswick, NJ
    GLA: 132,000 Square Feet
  • 1

North Village Shopping Center


Levin has taken the challenges presented at this shopping center and developed and implemented a strategic re-development plan not once, but twice.

1998

When Levin assumed this assignment, the center had a closed Bradlees and Superfresh grocery store. Located at the heavily traveled intersection of US 1 and US 130, and passed by more than 100,000 vehicles each day, Levin analyzed the trade area and determined that there was a need for more junior anchor space users than a large anchor space. The Bradlees space was too deep for sub-dividing to junior anchors, so taking a calculated risk, Levin shaved 40 feet of depth of the front of the building to accommodate retailers with 25,000 to 50,000 square foot requirements (and saved millions by not demolishing the entire anchor building and starting over from scratch). As an important side benefit, we were able to create additional parking in front of the new stores.

Competition from the recent construction of several modern retail facilities nearby required Levin to take North Village Shopping Center up to and beyond the new marketplace “standard”. As such, the re-design also included a new façade, re-designed parking lot and upgraded lighting and landscaping. Levin, which served as construction manager for the project, also designed a new pylon, and entry and exit signage.

Our team began marketing the space prior to the launch of construction and immediately drew significant leasing interest. Barnes & Noble became the first new anchor store to sign on, followed by Michael’s, Bed Bath & Beyond, and Eastern Mountain Sports. A Chili’s pad site, Panera Bread, Staples, and Smashburger joined later. North Village became the dominant shopping destination in the trade area.

2016

As retail shopping trends changed, new challenges emerged and another re-development process started for Levin. Barnes & Noble vacated their 25,000 square foot space and Eastern Mountain Sports closed during a bankruptcy filing. Through strong leasing efforts, Trader’s Joe’s opened in 2017 in a portion of the former Barnes & Noble. This created an opportunity to re-orient Trader Joe’s entrance toward a previously little-used parking field and allowed Levin to lease to some smaller service tenants in the remaining Barnes & Noble space. In addition, Levin’s leasing team completed a deal with ULTA Beauty in the Eastern Mountain Sports space, and they will open during 2018. Additional landscaping upgrades and a widening of a secondary entrance driveway were also completed. As the re-tenanting of North Village continues to completion, it will re-establish the center’s prominence as a shopping destination for the area.