Positioning Retail Real Estate for a New Generation

December 16, 2015

  • Posted on:  Thursday, 17 December 2015 15:38
  • Written by 
Rate this item
(1 Vote)

Levin Announces LongHorn Steakhouse Lease in Falls Church, Va.

Casual Dining Chain Set to Occupy 6,200 Square Feet at Crossroads Place

FALLS CHURCH, Va., Dec. 16, 2015 – Casual dining chain LongHorn Steakhouse has leased 6,200 square feet at Crossroads Place in Falls Church, announced Levin Management, exclusive leasing and managing agent for the 336,000-square-foot shopping center. The commitment brings retail occupancy at the center to 100 percent.

Levin Management negotiated the long-term lease. Melissa Webb of The Rappaport Companies served as tenant broker in the transaction.

“Crossroads Place is a very well-positioned center, with strong daytime and residential populations,” said Matthew K. Harding, president of Levin Management. “For LongHorn’s operator, which also owns a successful Olive Garden restaurant at the property, these factors, combined with excellent demographics and a desirable co-tenancy, make this location a perfect fit.”

Crossroads Place also recently added Chipotle Mexican Grill to its tenant roster. The fast-casual Mexican restaurant leased 2,100 square feet. “Casual and fast-casual restaurants are among the most active retail categories looking to establish or expand their footprint in our market area,” added Harding. “These two popular eateries will add a new and exciting element to the existing food offerings at Crossroads Place.”

Located at the heavily traveled intersection of Leesburg Pike and South Jefferson, Crossroads Place serves a growing residential population of more than 575,000 people and a daytime population of nearly 336,000 within a five-mile radius. The marketplace offers an average household income of more than $123,400, and the daily traffic count is about 60,600 vehicles per day.

Anchored by a Giant food store, T.J.Maxx, HomeGoods, Cost Plus World Market and Burlington Coat Factory, Crossroads Place features a mix of more than 20 regional and national tenants also including Mattress Warehouse, Advance Auto, Foot Locker, Office Depot, Snips Etc., CiCi’s Pizza, Einstein Bagels, PNC Bank and Starbucks.

Levin Management, based in North Plainfield, N.J., is one of the nation’s leading retail real estate services firms, with a strong focus in the northeastern United States and an owner’s approach to the business. The firm offers a full range of services for a diverse portfolio that encompasses approximately 95 properties and more than 13 million square feet, including leasing, property management, accounting, construction management and marketing. Levin serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, street retail, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Massachusetts, Virginia and North Carolina.

Read 7297 times Last modified on Thursday, 17 December 2015 15:44