M id A tlantic Real Estate Journal — Retail Development Reimagined —May 20 - June 16, 2022 — 5A M id A tlAntic Real Estate Journal — Retail Development Reimagined — March 19 - April 15, 2021 — 33A
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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 Boot Barn expects to open this fall at Union Lake Crossing Metro Commercial represents Irgang Group in 14,354 s/f lease
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OUTHERN NEW JER- SEY — Irgang Group has signed Boot Barn 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. to a lease for a 14,354 s/f store at Union Lake Crossing, a 393,000 s/f power center serving the greater Mill - ville-Vine - land market in southern NJ. Boot Barn expects to open this fall at Union Lake Crossing in Millville. The 14,353 s/f loca - tion will be among two initial stores that the 303-unit chain is opening in NJ later this year. Boot Barn will join a store lineup at Union Lake Crossing that’s led by Target, Shop- Rite, Kohl’s, Ross, Staples and PetSmart. The Union Lake Crossing store will be among two initial locations that Boot Barn is opening in New Jersey lat - er this year, as the 303-unit chain pushes northward along the East Coast from existing locations in Delaware and Pennsylvania. The other New Jersey store will be in Cherry Hill. Currently operating in 38 states, Boot Barn ranks as the nation’s leading lifestyle retailer of western and work- related footwear, apparel and 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 Joseph Dougherty N S
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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 Boot Barn’s Union Lake Crossing store is expected to de - but this fall, occupying a space between Party City and Xfinity. The chain will join a mix led by shadow anchor Target, along with Shop-Rite, Kohl’s, Ross Dress For Less, Staples, and PetSmart. Other notable ten - ants include Famous Footwear, Party City, Five Below, Buffalo Wild Wings, Moe’s Southwest Grill, and Sonic. Over 95% of the property’s occupied space is held by national tenants. “Our exclusive leasing agent, Metro Commercial Real Estate, has been working diligently to introduce new tenants that will make Union Lake Crossing an even more dynamic destination for residents and daytime work - ers in our region,” said Irgang Group CEO Mark Irgang . “With their unique offering, Boot Barn fit that bill perfectly. accessories for men, women and children.
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 Meanwhile, Dougherty noted that Famous Footwear, an original tenant at Union Lake Crossing, just renewed the lease for its 6,983 s/f store. Irgang Group was repre - sented by Metro Commercial on the lease, while Boot Barn was represented by CBRE. MAREJ Having witnessed their special brand of merchandising at Pop - lin Place, a center we recently purchased in North Carolina, we are thrilled to have them as the first new tenant since our acquisition of Union Lake.” Joseph Dougherty , ex - ecutive vp and principal with Metro Commercial, added: “As brick-and-mortar retailing continues to come back from the effects of the Pandemic, we’ve had strong interest from a num - ber of national, regional and local tenants for Union Lake’s remaining vacancies and expect to announce more signed leases as the year progresses.”
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