Positioning Retail Real Estate for a New Generation
  • Featured Case Study

    Featured Case Study
    GLA: 260,000 Square Feet
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Post Road Plaza

The Challenge

Originally developed in the early 1960s, this 260,000-square-foot shopping center had slipped from its top-performing position in the trade area due to anchor tenant bankruptcies and demographic shifts. The center’s design had become dated, and the prior use of the site had resulted in environmental issues that required remediation. Levin was tasked with restoring Post Road Plaza’s competitive positioning.

The Levin Solution

As managing/leasing agent and construction manager, Levin assembled a development team of architects, engineers and land use counsel to redesign the property to modern standards and retenant it to better serve – and attract – regional consumers. Working with outside counsel and other professionals, we directed the municipal land use/entitlements approval process, oversaw the development of the architectural construction drawings, solicited bids and awarded contracts, and directed the more than $15 million renovation of the buildings and common areas.

At the same time, we also negotiated a cooperation agreement for the environmental remediation with the former property owner, and worked with that party and the State of New York to develop a clean-up plan. Levin then represented our client in supervising the remediation, which the former property owner implemented.

Our leasing team successfully filled Post Road Plaza’s anchor space with a 75,000-square-foot Fairway Markets supermarket. Fairway is a market leader in terms of sales, and a much sought-after tenant in the region. Other added tenants include Dave & Buster’s, 24 Hour Fitness, Marshall’s Shoes, HomeGoods, Lane Bryant, Panera Bread, Sally Beauty Supply, Visionworks, Sprint and a free-standing Smashburger. Existing tenant Modell’s expanded into a new prototype and several others renewed their commitments at the property. Today, following its ambitious repositioning, renovation and retenanting, Post Road Plaza is again a vibrant, successful property.