18A — January 31 - February 13, 2020 — Retail Development Reimagined — M id A tlantic Real Estate Journal
www.marej.com
R etail D evelopment R eimagined Big-box backfill, active dining category and more are positive signs for market Levin Management Corporation arranges 193,000 s/f in leasing in three-month period
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new restaurant commitments, the largest involved Hook & Reel Cajun Seafood and Bar (8,350 s/f) at Twin City Shop- ping Center in Jersey City. Lease renewal activity remains robust within LMC’s portfolio as well – illustrated by auto- motive parts and accessories retailer AutoZone extending its 12,700 s/f commitment at 214 Rahway Ave. in Elizabeth. “The post-Labor-Day period has been particularly robust,” said Matthew Harding , LMC’s chief executive officer. “We continue to observe high levels of activity in the off- price, dining and personal ser-
vices categories, with healthy movement among traditional retailers as well. All of this is propelling 2019 toward a strong finish.” Harding notes that the Bur- lington lease not only exempli- fies the market’s momentum but also provides a strong ex- ample of how anchor transitions can ultimately benefit brick- and-mortar properties. “While we never want to see major retailers close their doors, this is an unavoidable part of our cyclical industry,” he said. “And, at the same time, anchor vacancies create opportunities – for landlords to strengthen a property’s tenant mix, and for high-performing retailers look- ing to expand their presence. Burlington’s commitment illus- trates this reality, as nationally recognized off-price retailers continue to shape the industry and our marketplace.” BRIDGEWATER, NJ — Pupcakes and Pawstries Bark- ery and Shoppe recently cel- ebrated its grand opening at Somerset Shopping Center in Bridgewater. The locally owned business – which carries a full line of dog food, treats and supplies – relocated to its new 2,500 s/f space from Basking Ridge where it successfully operated for six years. “We really have everything here a pet owner needs for life with their canine companion,” said Paul Puglisi, who owns the store with his wife, Belinda. “Our new store at Somerset Shopping Center is larger and more centrally located. It will allow us to better serve our loyal existing customers while introducing Pupcakes and Paw- stries to new patrons in the Bridgewater area and beyond.” Vanessa Fernandez-Kelty , LMC senior leasing represen- tative, arranged the lease. “‘Mom and Pop’ businesses like Pupcakes and Pawstries bring tremendous value to shopping centers and to the communities they serve,” said Fernandez- Kelty. “With its distinctive branding, quality products and personal customer service, this new tenant is a great addition to Somerset Shopping Center. We are excited to be part of the store’s continued success.” Somerset Shopping Center is located at the junction of Rte. 202/206 and Rte. 28. Pupcakes and Pawstries joins a co-tenan- cy that includes Christmas Tree Shops, Barnes & Noble, Mod- ell’s and Gap among others.
O R T H P L A I N - FIELD, NJ — Levin Management Corpo-
ration (LMC) has arranged 193,000 s/f of new leases, re- newals and expansions over the past 90 days, the North Plainfield-based commercial real estate services firm an- nounced. The activity reflects steady demand within LMC’s 105-property, 15 million s/f leasing and management port- folio. LMC’s largest new lease in- volved a 46,000 s/f commitment by off-price chain Burlington Stores, which will take over the free-standing box formerly
Somerville Circle Shopping Center
occupied by Toys “R” Us/Babies “R” Us at Somerville Circle Shopping Center in Raritan,
NJ. LMC’s recent leasing veloc- ity also reflects strong activity among dining tenants. Of six
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