8A — September 30 - October 13, 2016 — Shopping Centers — M id A tlantic
Real Estate Journal
www.marejournal.com
S hopping C enters
Marta Person Villa of CBRE serves as tenant’s broker in the transaction West Marine ’s 14,650 s/f lease brings Levin-managed center to full occupancy
W
transaction. “West Marine will be a won- derful resource for local resi- dents,” said Korris. “We are confident this newest addition to St. Georges Crossing will make a major contribution to the shopping center’s ongoing popularity.” With more than 260 stores in 38 states and Puerto Rico, West Marine is recognized as a leading waterlife outfitter for cruisers, sailors, anglers and paddle sports enthusiasts. Other recent additions to the tenant mix at St. Georges Crossing include off-price fashion retailer T.J.Maxx and
upscale American restaurant Blu Alehouse – both of which have enjoyed rapid, sustained success. Anchored by ShopRite and P.C. Richard & Son, St. Georges Crossing features a strong mix of retail, restau- rant and service tenants also including PetSmart, Pier 1 Imports, AutoZone, Bertucci’s restaurant, Verizon Wire- less, European Wax Center, Visionworks, Taco Bell and GameStop, among others. The center serves a resi- dential population of more than 352,400 people within a five-mile radius, and a day- time population of 160,000 in those same five miles. The daily traffic count exceeds 100,000 vehicles. The property includes one, 4,300 s/f pad site available for development. St. Georges Crossing is one of a number of properties within Levin’s shopping center portfolio to reach 100% occu- pancy in recent months, dem- onstrating renewed strength in both the economy and the northeast retail marketplace. n NAI Emory Hill announces sale of Back Bay Center MILLSBORO, DE — Back Bay Center is a general inline retail space in a grocery-an- chored neighborhood center. The center is located southeast of Bay Farm Rd. on RT. 24 Long Neck, DE. NAI Emory Hill agents JimO’Hara Jr. , JimO’Hara III and Kevin O’Hara man- aged the sale of the 10,000 s/f retail center with a padsite for future development on 2.12 acres. The purchaser was Back Bay Center, LLC and the seller was TBB long Neck, LLC. The center is in a prime lo- cation near Delaware’s beach- es and coastal towns which provide a strong year-round residential market and large summer market of Delaware beach vacationers. The Back Bay Addition is occupied by Subway, Liberty Tax and Loan till Payday. n Back Bay Center
OODBRIDGE, NJ —Boating goods re- tailer West Marine
has leased 14,650 s/f at St. Georges Crossing in Wood- bridge, bringing the 340,000 s/f shopping center to full occupancy. Located at the in- tersection of heavily traveled Rte. 1 & 9 and Rte. 35, the key Middlesex County shopping center is leased and managed by North Plainfield, NJ-based Levin Management . Levin leasing representa- tive Jordan Korris negotiat- ed the long-term lease. Marta PersonVilla of CBRE served as tenant’s broker in the
St. Georges Crossing
Reliability is important.
When you’re facing a complicated multifamily financing situation, it’s crucial to have a dependable lender on your side. M&T Realty Capital Corporation has the experience and expertise to understand your business, and our relationship-focused approach ensures the terms we recommend are right for you. These are just some of the reasons 75% of our business comes from repeat borrowers. Get started at learnmore.mandtrcc.com or call 1-800-737-2344.
Equal Housing Lender. Based on internal customer data. All loans and all terms referenced herein are subject to receipt of a complete application, credit approval and other conditions. ©2016 M&T Realty Capital Corporation. Member FDIC.
Made with FlippingBook flipbook maker