Levin Management Serves as Advisor in Purchase of ACME Center in Manasquan
Firm Appointed Leasing, Managing Agent for Monmouth County, N.J., Asset
MANASQUAN, N.J., Oct. 26, 2017 – Levin Management Corporation (LMC) served as advisor to Levin Properties in its recent purchase of ACME Center in Manasquan. The two-acre property at 71 Taylor Ave. is home to a 19,000-square-foot ACME supermarket.
LMC identified the single-tenant asset as an investment target, spearheaded the due diligence process and worked with the seller to finalize the purchase. Now, under the new ownership, LMC has been named as the property’s exclusive leasing and managing agent.
“This site enjoys a prominent location in center of Manasquan, which made it an appealing long-term acquisition opportunity for Levin Properties,” noted LMC’s Robert Carson, executive vice president. “As leasing and managing agent, we look forward to working with ACME and ensuring an attractive, well-maintained shopping experience for area residents.”
The easily accessible property serves a residential population of more than 130,000 people and an average household income of more than $112,000 within a five-mile radius. It represents the latest in a growing number of significant new assignments for LMC. In recent months, the firm was awarded leasing and/or management agencies in New Jersey’s Freehold, Flemington, Hackettstown, Secaucus, Union, Madison and Toms River, as well as in Westbrook, Conn.
For 65 years, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm 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.