Positioning Retail Real Estate for a New Generation

September 11, 2017

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Levin Awarded Shopping Center Assignments in Secaucus and Flemington, N.J.

Firm to Lease, Manage a Power Center in Mill Creek and Flemington Marketplace

SECAUCUS and FLEMINGTON, N.J., Sept. 11, 2017 – Levin Management Corporation (LMC) has been named exclusive leasing and managing agent for two shopping centers, located in Secaucus and Flemington, during the past month. For 65 years, the firm has served as a single-source commercial real estate services provider for institutional and private owners.

The Secaucus assignment involves a 306,000-square-foot power center – featuring Kohl’s, Babies R Us/Toys R Us, T.J. Maxx and Bob’s Discount Furniture – located in Mill Creek at Harmon Meadow. It is the second Harmon Meadow assignment for LMC this year; the firm also recently became managing agent for The Plaza at Harmon Meadow.

“Located just five minutes from Manhattan, Secaucus is at the epicenter of the desirable Meadowlands submarket,” noted Joseph Lowry, LMC’s senior vice president of leasing and acquisitions. “There’s incredible demand for retail space there, and existing tenants continue to perform extremely well, bolstered by a population of 250,000 people within a three-mile radius.”

LMC Senior Leasing Representative Kyle Farley is heading up the Mill Creek property leasing team. LMC’s initial efforts there will focus on marketing a 47,260-square-foot big box retail space formerly occupied by sporting goods chain Sports Authority. “Preliminary interest in this space from prospective tenants already has been phenomenal,” noted Lowry. “Our goal is to back-fill this vacancy with a compatible tenant that further enhances this shopping center’s already diverse retail mix.”

Flemington Marketplace, a 240,000-square-foot open-air shopping center, sits on the Flemington Circle at the intersection of routes 202, 31 and 12 in Flemington. The property features an outstanding lineup of national anchor tenants – including Kohl’s, Michaels and Burlington Coat Factory – complemented by Chili’s, Panera Bread, Verizon Wireless, Hallmark and Cold Stone Creamery. A new Aldi supermarket is under construction and scheduled to open at the property this fall.

“Flemington Marketplace has great presence, access and visibility, and is one of the best-positioned shopping centers in the Flemington retail district,” Lowry said. He cited strong demographics – including a $136,000 average household income within a five-mile radius and a daily traffic count of 46,000 vehicles passing the property – as keys to the property’s historic strong occupancy.

Under the direction of Senior Leasing Representative Andrea Kyriacou, LMC’s leasing efforts at Flemington Marketplace initially will focus on filling the center’s one remaining, 2,400-square-foot availability. Looking ahead, LMC’s plans include the creation of additional junior box space as well as a new outparcel.

The additions of the Mill Creek at Harmon Meadow property and Flemington Marketplace highlight LMC’s continued momentum in the Northeast retail marketplace. In recent months, beyond also adding the Plaza at Harmon Meadow to its portfolio, the firm was awarded leasing and/or management agencies in New Jersey’s Delran, Freehold, Hackettstown, Madison, Union, as well as in Westbrook, Conn.

LMC helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value; it has distinguished itself as a firm large enough to excel in assignments of any scale while continuing to employ a hands-on, proprietary approach in all its activities. The company specializes in repositioning, re-tenanting and renovating real estate – areas that have become particularly vital in an increasingly competitive market.

LMC today maintains a diversified, retail-focused portfolio of approximately 100 properties totaling 14 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s services 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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