www.marej.com M id A tlAntic Real Estate Journal — Retail Dev
6A — June 17 - July 21, 2022 — Retail Development Reimagined — M id A tlantic Real Estate Journal www.marej.com
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R etail D evelopment R eimagined eimagineD 700,000 s/f of transactions & new agency assignments among 2020 Levin Mgmt. ushers in 2021 with a look back on progress The Shops at Bethlehem have a refreshed look NAI Summit presents leasing opportunities at renovated SC
LLENTOWN, PA — NAI Summit presents leasing opportunities at The Shops at Bethlehem, a newly renovated 166,000 s/f GIANT anchored shop- ping center. The shopping center, formerly known as Easton Commons, was re- cently acquired with plans for a comprehensive rebrand and refreshed look. “We felt the name of the shopping center should be more representative of the community it serves and we are taking a strategic ap- proach to identifying the needs of the local residents,” said Sarah Finney Miller vice president at nai summit. the building renovations, which will be completed in Summer 2022, include façade updates, new lighting fixtures, new column structures, enhanced signage, and more. This is the first step in repositioning the shopping center with an eye toward the future. The shopping center is fill - ing up quickly. GIANT Foods has renewed its long-term commitment to the center and modernized the interior of its store. Local real estate developer, Posh Properties, recently secured the retail pad site along Easton Avenue where a nationally recognized coffee franchise with a drive 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 ORTH PLAIN - FIELD, NJ — Amid the challenges of 2020, commercial real estate services firm Levin Manage- ment Corporation (LMC) achieved tangible progress – a promising sign for the industry moving into a new year. Over the past 12 months 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. N A
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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 thru will be constructed at the center’s northeast entrance. New leases have been signed with Pennsylvania based Ac- tive Learning Centers which plans to open a new 11,250 s/f childcare center, and local fur- niture and home furnishings company Dave’s Department Store for 18,000 s/f. According to Jennifer Ken- nedy, associate broker with NAI Summit, “Our goal has been to attract a wide variety of businesses that will serve the local community. The 33,000 s/f junior anchor space is currently on the market and is available for posses- sion in November 2022. The space has a 25’ clear height and has a dock high loading
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 door. With industrial and flex space in demand, and Lehigh Valley inventory low, this space could work extremely well for a company in need of warehouse space to supple- ment its wholesale or retail op- eration. Other uses that would complement the tenant mix include home improvement, appliance, entertainment, and healthcare.” Additional valued tenants at the center include MAXX Fitness Center, Dairy Queen, Unity Bank, local favorite Vic’s Bagels, Sports Clips, Allstate Insurance, and more. With the center over 95% occupied, only one inline space and one second genera- tion restaurant space remain available for lease. MAREJ
The Shops at Bethlehem
BORRUS ASSOCIATES Investment Real Estate
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Julius Borrus Broker & President Borrus Associates
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P.O. BOX 8357, REDBANK, NJ 07701 P: 908-839-0052 | borruscommre@aol.com A Member Of The International Council Of Shopping Centers NY, NJ, CT, PA INVESTMENT REAL ESTATE
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