Firm's Activity Includes 168,000+ SF of New Lease Transactions, Renewals
NORTH PLAINFIELD, N.J., May 6, 2013 – Levin Management, one of the nation's leading retail real estate services firms, experienced healthy levels of leasing activity in several markets throughout the first quarter of 2013, executing more than 168,000+ square feet of renewals and transactions. The firm's 90-property, 12.5 million-square foot shopping center portfolio is among the largest in the Northeast United States.
"We have completed a variety of new leases and renewals since January, bringing a wave of new retailers and restaurants into the marketplace," said Matthew K. Harding, president of Levin Management. "Retail leasing activity is moving in a positive direction, a trend we expect to see continue as regional power centers seek out new ways to improve and diversify their tenant mix."
Levin's transactions since January include:
- In Mercer County, Deals recently opened in 13,810 square feet at Capitol Plaza in Ewing, and Dots extended its lease. The women's and plus size fashion, clothing and accessories retailer occupies 3,600 square feet there. Elsewhere in the county at Hamilton Plaza in Hamilton Township, pet supply industry giant Petco signed a 13,640-square-foot lease, and affordable women's apparel retailer Rainbow signed a 7,590-square-foot lease.
- Activity has been particularly strong for Levin in Middlesex County, where a
number of new leases or lease renewals have taken place since January. At
2500 Route 9 Plaza in Old Bridge, ATA Martial Arts signed a 3,099-square-foot
lease. At The Shoppes at North Brunswick in North Brunswick, Brighter Dental
has leased 2,875 square feet.
At Brunswick Shopping Center in North Brunswick, Rita's, the nation’s largest Italian Ice concept, has leased 951 square feet of space, while cellular provider Wireless Zone (933 SF) and Radio Shack (3,373 SF) extended their leases. In South Plainfield at Clinton Corner, Hunan Wok restaurant renewed its 1,400- square-foot lease, while Philly Pretzel Factory (1,314 SF) did the same at 960 Amboy Avenue in Edison.
- Further south in Monmouth County, Subway signed a 1,962-square-foot lease at Aldrich Plaza in Howell. At Wall Towne Center in Manasquan, Elements Therapeutic Massage has leased 2,000 square feet of space.
- Three tenants renewed their leases in Sussex County at Olde Lafayette Village in Lafayette. Sleepwear and intimate apparel retailer Maidenform renewed its 3,500-square-foot lease at the open air shopping center. The Village Mane Salon – specializing in hair design and coloring – has renewed its 2,310-square-foot lease, while Vitamin World, a manufacturer and distributor of high quality nutritionals for more than 25 years, has renewed its 1,024-square-foot lease commitment there.
- In Somerset County, at Blue Star Shopping Center in Watchung, Citi Financial has renewed its 2,025-square-foot lease. At Rutgers Plaza in Franklin Township, GNC (1,704 SF) and RadioShack (1,848 SF) both renewed their leases. GNC extended its lease for an additional five years at The Hills Village Center in Bedminster, where it currently occupies 1,059 square feet of space.
- RadioShack extended its 1,950-square-foot lease at Clifton Plaza in Clifton. GameStop Inc. – the world's largest video game retailer – also renewed 1,629 square feet of space at the Passaic County center, which is located on Route 46 just one-half mile from the Garden State Parkway.
- At Paramus Place in Paramus, David Alan's Cuts for Kids has extended its 1,551-square-foot lease. The well-located Bergen County center is anchored by a 100,000-square-foot Kohl's department store.
- Two retailers have joined the diverse mix of stores and services at Mayfair Shopping Center in Commack. Chico's, a specialty retailer of casual-to-dressy women's clothing, has leased 2,971 square feet, while Red Mango, one of the nation's fastest-growing frozen yogurt and smoothie franchises, has leased 1,280 square feet of space.
- Radio Shack – a leading provider of technology products, accessories and services – extended its 2,800-square-foot lease at Liberty Center in Erie, Pa. In Northeast Philadelphia at Morrell Plaza, Supreme Nails also extended its 1,600- square-foot lease.
- Centre Plaza in Bensalem, Pa. also has been a hotbed of activity for Levin. LabCorp, a leading-edge provider of medical laboratory tests and services, signed a 1,700-square-foot lease at the center, while Domino's Pizza extended its 1,700-square-foot lease.
- Burlington Coat Factory, the leading off-price apparel and home product retailer renewed its 89,773 square feet of space at Crossroads Place in Falls Church, Va.
- At Hickory Plaza in Hickory, N.C., El Paso Mexican Restaurant has renewed its 5,220-square-foot lease.
With headquarters in North Plainfield, N.J., Levin Management serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Virginia and North Carolina. The company taps into the associated, expansive tenant roster to conduct a biannual Retail Tenant Survey that provides insight on industry trends and sales performance.
Having celebrated its 60th year in 2012, Levin Management offers a full range of services including leasing, property management, accounting, construction management and marketing. The company specializes in repositioning, re-tenanting and renovating retail properties – areas that have become particularly vital for today's institutional, fiduciary and individual property owners.