Positioning Retail Real Estate for a New Generation

January 14, 2016

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Sakura Japanese Restaurant Coming Soon to Morrell Plaza in Philadelphia, Pa.

Restaurant to Occupy 4,000 Square Feet at Levin-Managed Shopping Center

PHILADELPHIA, Pa., Jan. 14, 2016 – Sakura Japanese Restaurant has leased 4,000 square feet at Morrell Plaza in Philadelphia, becoming the latest eatery to join the tenant mix at this 103,250-square foot shopping destination. Located directly on Frankford Avenue/Route 13, Morrell Plaza is exclusively leased and managed by North Plainfield, N.J.-based Levin Management.

Barry Borsky, Levin’s leasing representative, negotiated the long-term lease. Jamie Weiner of Delphi Properties represented the tenant in the transaction.

“Morrell Plaza’s high consumer traffic, exceptional demographics and visible location – in the retail heart of a busy Northeast Philadelphia neighborhood – made it particularly attractive to this restaurant operator,” said Borsky. “Sakura Japanese Restaurant adds an exciting new element to Morrell Plaza’s existing food offerings, and we look forward to bringing this authentic Japanese dining experience to the community.”

Sakura Japanese Restaurant features an extensive menu of fresh and artistically crafted sushi as well as hibachi grill items. Morrell Plaza represents the second Sakura Japanese Restaurant location for this operator, according to Borsky. The original opened in Bensalem, Pa.

Extensively renovated and expanded in 2008, Morrell Plaza is anchored by a 63,000-square-foot ShopRite supermarket and a 12,700-square-foot Rite Aid drugstore. The current tenant roster includes a mix of national, regional and local retailers and service providers including T-Mobile, Supercuts, Subway, Dunkin' Donuts, Supreme Nail and Emperor’s Garden restaurant, among others. The property has a five-mile population of more than 400,000 with an average household income of $72,000. The center enjoys a traffic count of more than 36,000 vehicles per day.

Space availabilities at Morrell Plaza range from 1,200 square feet to 6,000 square feet and include a 2,000-square-foot end cap.

Levin Management 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.

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