M id A tlantic Real Estate Journal — Retail Development Reimagined —March 18 - April 21, 2022 — 9A M id A tlAntic Real Estate Journal — Retail Development Reimagined — arch 19 - April 15, 2021 — 33
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R etail D evelopment R eimagined D 700,000 s/f of transactions & new agency assignments among 2020 Levin Mgmt. ushers in 2021 with a look back on progress Includes former Pier I store & adjacent SamA h building NIA National Realty closes four highway retail prope tie
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ORTH P L A I N - FIELD, NJ — Amid the chal lenges of ARAMUS, NJ — NIA National Realty an- nounced that their fourth quarter 2021 closed with many transactions, in cluding the sale of four high- way retail properti s amount- ing to just u der $15M. T properties co sisted of the former “My Home” store on Rt . 4 West, 5,500 s/f. 2020, commercial real estate services firm LevinManage- ment Corporation (LMC) achieved tangible progress – a promising sign for the industry moving into a new year. Over the past 12months the North Plainfield based organization secured nearly 700,000 s/f of new leases and renewals, added new leasing and management assign- ments, solidified its staff with new hires/promotions, and garnered several industry recognitions. Highlights of LMC’s retail leasing activity included an anchor lease with off-price retailer Burlington Stores at Mill Creek at Harmon Meadow (Secaucus), a 24,000 s/f lease with Aqui Market at Twin City Shopping Center (Bayonne) and a 20,000 s/f lease with Planet Fitness at Mayfair Shopping Cen- ter (Commack, NY). LMC’s transactional activity also brought a host of renewals as well as new retailers and service providers to the region, punctuated by nearly one dozen leases with restaurant tenants – several of which have already launched opera- tions. Other openings involved N P On Rte. 4 Eastbound s les number tw a d thre were adjacent to each oth r. The for- mer Pier I store, of about 9,800 s/f and the adjacent 14,000 s/f Sam Ash building. O Rt . 17 Southbound, he former Goodwill property, also about 14,000 s/f old s well. With the first q arter of 2022 contr cts that are sched- uled to close totali g more than $20M in additional etail properties our marketplace is thriving. MAREJ
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Burlington Stores at Mill Creek at Harmon Meadow
high-profile anchors like Lidl (North Brunswick) and Burl- ington Stores (Raritan). Non-retail leasing highlights within LMC’s diversified port - folio included a 135,000 s/f renewal by Hall’s Warehouse Corp. at Rutgers Industrial Center (Piscataway). “Despite the economic un- certainty and business-related disruptions facing our indus- try since March, there has been progress – with certain key dynamics coming into sharpened focus,” said LMC’s Matthew Harding , chief ex- ecutive officer. “For example, positive landlord/tenant rela- tions have always been impor- tant. During 2020, as tenants worked to navigate an incred- ibly difficult environment, we approached everything on a very granular basis, review- ing the distinctive needs and nature of each business. Like - wise, we have done the same with our landlord clients and their individual properties to leasing and managing agent for Wall Towne Center. LMC leasing representative Ken- dal Hand-Freda arranged the 2,200 s/f Wall Eyecare Associates transaction; Kent Lorentzen of Coletta Com - mercial Realty represented the tenant. Wall Eyecare Associates is owned and operated by Dr.
help them best respond to ten- ant requests and operational needs. “This customized approach has always been central for our team; however, this year has intensified the practice to a new level that we will sustain moving forward,” Harding added. “This is an ad- vantage we can provide over some of our larger, nationally focused peers.” LMC also continued to ex - pand its leasing and manage- ment portfolio, which today totals 110 properties total- ing nearly 15.5 million s/f. The firm was appointed leas - ing and managing agent for Springfield Avenue Market - place, a 112,000 s/f supermar- ket-anchored property at 204- 234 Springfield Ave. in New - ark. In Bergen County, LMC was named managing agent for Marketplace at Edgewater, a 73,000 s/f shopping center located at 725 River Rd. in Edgewater. MAREJ Jennifer Ward. An established local optometrist, Dr. Ward was a Pearle Vision franchisee at another Wall location before opening her own practice at Wall Towne Center. Wall Eyecare As- sociates specializes in providing comprehensive eye exams, con- tact lens fittings, and the treat - ment and management of eye disease and eye infections. MAREJ
4,000 s/f Sam Ash building
Mid Atlantic Real Estate Journal
Former Goodwill pro erty
MANASQUAN, NJ — Opti- cal provider Wall Eyecare Asso- ciates is coming to Wall Towne Center in Manasquan, an- nounced Levin Management Corporation (LMC) . The 100,000 s/f, grocery-anchored retail property sits on Rte. 34, less than one quarter mile from the intersection of Rte. 35. LMC serves as exclusive Levi Mgmt. arrang s 2,200 s/f lease with optical provider
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