Portfolio Additions Underscore Strong YTD Business Momentum
Commercial real estate services firm Levin Management Corporation (LMC) has been awarded two new property management assignments – on behalf of two new clients – continuing a period of sustained business momentum for the North Plainfield-based organization.
In New York/New Jersey/Pennsylvania, LMC was retained to manage a 25-property portfolio including five multi-tenant and 20 single-tenant net-leased assets totaling approximately 335,000 square feet. The addition strengthens LMC’s Long Island presence, especially, as most of the properties are located in Suffolk and Nassau counties. Tenants span a range of categories including convenience, grocery, dining, home improvement, banking and pharmacy, among others. In addition to providing strategic consulting, LMC will apply its proven management standards to ensure consistent and high-quality operations throughout the portfolio.
“This new client cited Levin’s depth of knowledge and integrated service platform – combined with our industry reputation as a hands-on, nimble and collaborative third-party provider – in selecting us for this assignment,” said Joseph Lowry, LMC senior vice president of acquisitions and business development. “This is particularly gratifying because the client’s due diligence process was incredibly thorough, and the property owner met with a number of regional, national and international commercial real estate services firms.”
Additionally, in Old Bridge, N.J., LMC was tapped as exclusive managing agent for The Shoppes at Old Bridge. Located on Route 9, the 125,000-square-foot shopping center is home to Crunch Fitness and Worldwide Flooring Design Center, along with a mix of apparel stores, specialty shops, restaurants and service providers such as Loft, Chico’s, Panera Bread and Lash Lounge, among others.
The center’s new ownership is gearing up to launch a property repositioning/renovation. “Our new client recognized the importance of engaging a strong manager with deep experience operating properties under redevelopment – one that could provide a continual on-site presence and work to ensure a seamless experience for tenants and shoppers throughout the process,” said Lowry. “The Shoppes at Old Bridge is a great addition to Levin’s management portfolio, and we look forward to utilizing our expertise in all aspects of property operations to maximize the center’s value and appeal.”
The new assignments continue an active business development period for LMC. In March, the firm also assumed the role of managing agent for 222 Bridge Plaza South, a 108,000-square-foot, seven-story office building located in Fort Lee, N.J., with several other prospects in the pipeline.
For seven decades, LMC has served as a trusted single-source services provider for institutional and private owners. The company today maintains a 120-property, 16 million-square-foot leasing and management portfolio. LMC helps its clients operate properties and create case-specific solutions to protect and improve 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 every facet of its business.
The firm offers 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.