Positioning Retail Real Estate for a New Generation

January 13, 2021

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Levin Management: Aqui Market Re-Commits at Twin City Shopping Center

Grocer’s 24,500-SF Lease Renewal, Aesthetic Upgrades Highlight Activity at Jersey City Retail Property

JERSEY CITY, N.J., Jan. 13, 2021 – A re-commitment by Aqui Market, recent aesthetic enhancements and a robust dining component are contributing to Twin City Shopping Center's position as a popular Hudson County retail destination, according to Levin Management Corporation (LMC). The commercial real estate services firm serves as exclusive leasing and managing agent for the 95,000-square-foot strip center located at the intersection of Garfield Avenue/Broadway and 53rd Street.

Aqui Market, which has occupied a 24,500-square-foot, former Acme space at Twin City Shopping Center since 2011 as a subtenant, has now extended its committed to the property with a direct, long-term lease. A family-owned and operated food market with Latin flair, Aqui Market was founded in 1990 and has four New Jersey locations.

LMC Leasing Representative E.J. Moawad arranged the Aqui Market lease. “As an essential retail category – and one that has proven to be Internet-resistant – grocery is a significant element for any shopping center,” said Moawad. “Aqui Market is a perfect match both for this neighborhood and Twin City Shopping Center, and we are pleased to have them remain a tenant here for many years to come.”

A series of renovations at Twin City Shopping Center over the past few years – including a new façade, stonework and sidewalk refurbishments – have significantly enhanced the property’s curb appeal. Recently completed enhancements at the center include converting parking lot lights to LED, new pylon signage, new post-and-rail fencing and upgraded landscaping.

In addition to Aqui Market, an assortment of dining options including Taco Bell, Popeye’s Louisiana Kitchen, Wendy’s and Dunkin’ contribute to the property’s sustained consumer traffic.

“Our restaurant tenants generate significant activity that contributes to Twin City’s overall appeal and ‘destination’ atmosphere,” said Moawad. “In recent months, these tenants have been busier than ever. With more consumers focused on safety and convenience, there has been heightened demand for fast-casual options, particularly drive-through businesses where customers can pick up orders from the comfort of their car.”

Twin City Shopping Center’s retail mix also includes Retro Fitness, Everything $.99, T-Mobile, 1HOURREPAIR.com, Apple Nail Salon, Twin City Liquors and host of neighborhood conveniences. The property’s ideal location on the Jersey City/Bayonne border further adds to its appeal. Notably, the center sits just off Exit 14A of the N.J. Turnpike and is easily reached by a network of local thoroughfares. The center serves a growing residential population of more than 39,000 people within a one-mile radius, and approximately 35,000 vehicles pass the property each day.

LMC is currently marketing space availabilities ranging from 1,950 square feet to 14,000 square feet at Twin City Shopping Center.

For nearly seven decades, North Plainfield, N.J.-based LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm today maintains a diversified, retail-focused portfolio of 110 properties totaling almost 15.5 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction management and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

Read 1356 times Last modified on Friday, 15 January 2021 21:22