M id A tlantic Real Estate Journal — Shopping Centers — ICSC PA/NJ/DE Conference & Deal Making — August 26 - September 15, 2016 — 7C
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Prominent 50,000 s/f retail site offers coveted Bergen County address Levin Management selected to lease Sports Authority space in Paramus, NJ
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private owners. Today Levin maintains a diversified retail- focused portfolio of approxi- mately 95 properties totaling 13 million s/f in the Northeast and Mid-Atlantic states, offer- ing leasing, property manage- ment, accounting, construction management and marketing. The company specializes in repositioning, retenanting and renovating real estate. Levin’s services continue to evolve with new technologies, efficiencies and sustainability-focused ini- tiatives to serve a new genera- tion of properties, investors and tenants. n
ARAMUS, NJ — Com- mercial real estate ser- vices firm Levin Man- agement has been retained to market a 50,000 s/f, big-box retail space formerly occupied by defunct national sporting goods chain Sports Authority. Located at 200 Ikea Dr. in Paramus, the prominent site is located at the intersection of routes 4 and 17 – in the heart of the highly sought-after Bergen County retail corridor. Situated directly across from the Garden State Plaza and just moments from the Garden State Parkway, 200 Ikea Dr. offers exceptional visibility, high traffic counts and strong demographics. The proper- ty’s in-place retailers include IKEA, Bed Bath &Beyond and Christmas Tree Shops. “This is a phenomenal space that offers unparalleled access and visibility within the dy- namic Paramus market,” said Joseph Lowry , Levin’s senior vice president of leasing and acquisitions. “It is truly one of the best retail locations within one of the best retail markets in the entire United States.” Given its size and flexibility, the space provides a unique op- portunity for multiple types of big-box players looking to enter the dynamic Bergen County market, according to Lowry. Levin is marketing the space to prospective tenants of varying sizes and uses, and is experi- encing significant interest from a variety of different retailers. “We are looking for the high- est and best use for this in-de- mand space, whether that is a big-box fitness chain, a restau- rant/entertainment concept, a consumer electronics retailer, or arts and crafts store,” Lowry said. “Our goal is to secure one major tenant, but, depending on the opportunity, would also consider dividing.” 200 Ikea Dr. serves a grow- ing residential population of more than 580,000 people within a five-mile radius with a daytime population of 299,000 people within those same five miles. The marketplace offers an average household income of $120,000 within one mile of the center, and the daily traffic count exceeds 141,000 vehicles per day on heavily traveled Rte. 4. For more than six decades, LevinManagement Corporation has been a trusted single-source commercial real estate services provider for institutional and
200 Ikea Dr.
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