R etail D evelopment R eimagined
M id A tlantic Real Estate Journal — Retail Development Reimagined — July 23 - August 19, 2021 — 3A
www.marej.com
Levin’s Vasconcellos III arranges 3,400 s/f lease at Middlesex County, NJ retail property Burlington Stores now open at Mill Creek at Harmon Meadow in Secaucus, New Jersey
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E C A U C U S A N D NORTH BRUNSWICK, NJ — Burlington Stores
is now open at Mill Creek at Harmon Meadow i n S e c a u c u s . The 306,000 s/f power cen- ter, for which Levin Man- a g e m e n t C o r p o r a - tion (LMC) s e r v e s a s p r o p e r t y manager, is part of the 2 0 0 - a c r e m i x e d - u s e H a r m o n Meadow de- velopment.
Sidney Singer
Burlington Stores is now open at Mill Creek at Harmon Meadow in Secaucus, NJ.
North Village Shopping Center in North Brunswick, NJ
Burlington occupies the big box retail space formerly oc- cupied by sporting goods chain Sports Authority. “Off-price brands are among the strongest Avison Young brokers sale of retail center in Alexandria, VA for $14.2M Shanghai Dumpling House at North Village Shopping Center. North Village Shopping Center is anchored by Bed Bath & Beyond and Michaels Arts & Crafts and is home to a popular Trader Joe’s location. Other retailers at the property sub-sectors in retailing today,” said LMC vice president of leasing Sidney Singer , who arranged the lease transaction on behalf of the property owner, an institutional client of New York Life Real Estate Inves- tors (NYLREI) . “Burlington is a quality addition to Mill Creek’s tenant lineup, which also includes Kohl’s, T.J.Maxx, and Bob’s Discount Furniture.” In North Brunswick, LMC leasing representative Ed Vas- concellos III arranged the 3,400 s/f long-term lease toWu’s Ed Vasconcellos III
include Staples, Ulta Beauty, Panera Bread, Smashburger, Chili’s and Lux Nails. North Village occupies a prime loca- tion on a main thoroughfare boasting a traffic count of more than 100,000 vehicles per day. MAREJ The property area has excel- lent traffic flow, with nearby retailers including Walmart and Kohl’s. It is ideally located adjacent to Kingstowne Towne Center, a vibrant live-work- play center in one of the most coveted areas near Washing- ton, DC. This centralized town center is Kingstowne’s core, with a wide variety of stores, restaurants and high-quality office buildings. The thriving area continues to grow quickly. More than 600 new multifamily units are scheduled to be completed in Kingstowne Towne Center. The influx of young, affluent renters will give another boost to this micro market’s retail economy and bodes well for the future of the property’s tenants. “This property is situated in a beautiful area that is extraordinarily popular with residents,” Ryan said. “Kings- towne’s appealing blend of homes, offices, restaurants and stores makes it one of Northern Virginia’s best plac- es to live.” MAREJ
ALEXANDRIA, VA — Avison Young’s Capital Markets Group announced that it has brokered the sale of a top-tier retail center in Alexandria, VA. A private buyer purchased 6001 Kingstowne Village Parkway from The Halle Companies for $14.2 mil- lion. The property, which is adjacent to Kingstowne Towne Center, is 100% leased to an ALDI supermarket, a La-Z-Boy furniture store and a newly opened Ashley Furniture HomeStore. An Avison Young Capital Markets team, led by Jona- than Hipp , principal and head of the U.S. Net Lease group; richard murphy , senior vice president; Chip Ryan , principal; and Matt Weber , senior vice Presi- dent, represented the seller. “This premier retail cen- ter in an unrivaled location represented a tremendous opportunity to purchase a generational -qual ity as- set,” Hipp said. “Thanks to strong demographics, the
Added Murphy: “This prop- erty represented an ideal combination of both a strong infill DC MSA location and 6001 Kingstowne Village Parkway
100%-leased, high-quality retail will continue to pro- vide stable income for years to come.”
an extremely high-quality rent roll. It’s a combination you don’t often see come to the market.”
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