Positioning Retail Real Estate for a New Generation

November 30, 2017

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24 Hour Fitness Joins Tenant Mix at Post Road Plaza in Pelham Manor, N.Y.

Construction Nearing Completion on New, 38,000-Sq.-Ft. Health Club

VILLAGE OF PELHAM MANOR, N.Y., Nov. 30, 2017 – Construction is nearing completion on a new 38,000-square-foot 24 Hour Fitness health club at Post Road Plaza in the Village of Pelham Manor. The addition of this anchor tenant, set to open in mid-December, marks another significant milestone for the Westchester County retail destination.

Levin Management Corporation (LMC) of North Plainfield, N.J., serves as exclusive leasing and managing agent for the 268,000-square-foot Post Road Plaza. LMC leasing representative Jordan Korris negotiated the long-term 24 Hour Fitness lease. Jeff Lagowitz of Savills Studley represented the tenant.

Headquartered in San Ramon, Calif., 24 Hour Fitness serves nearly 4 million members nationwide. The fitness pioneer’s conveniently located clubs are furnished with a wide variety of strength, cardio and functional training equipment, and are the perfect environment for fitness professionals to deliver dynamic personal and group training programs.

“Affordable fitness chains continue to grow in key markets throughout the United States,” Korris said. “This new 24 Hour Fitness location will distinguish itself by offering members a variety of innovative programs and amenities, including an indoor pool. 24 Hour Fitness not only complements Post Road Plaza’s existing co-tenancy, but represents another great amenity for members of the community.”

LMC has taken major steps over the past several years to reposition, re-tenant and redevelop Post Road Plaza. The retail real estate services firm directed more than $15 million in renovations to the property’s buildings and common areas, including an updated façade; innovative signage; and new lighting, paving and landscaping.

The LMC team successfully filled Post Road Plaza’s main anchor space with a 75,200-square-foot Fairway Markets supermarket. A 41,300-square-foot Dave & Buster’s and 24-Hour Fitness occupy the property’s second story, reflecting LMC’s creative strategy for use of that space. Other national tenants include Marshall’s Shoes, HomeGoods, Lane Bryant, Panera Bread, Sally Beauty Supply, Visionworks, Smashburger, Modell’s, Dress Barn, Hallmark, GNC and Citibank. The property’s newest tenant, Sprint, opened in October.

“We led the redesign of the property to transform the appearance and re-tenant it to better serve – and attract – regional consumers,” noted LMC’s Matthew Harding, president. “Ultimately, we restored Post Road Plaza’s competitive positioning in the marketplace. Today, with its mix of retailers, restaurants and service providers, Post Road Plaza has re-emerged as one of the region’s most vibrant and successful retail destinations.”

Located at the junction of U.S. 1, Pelham Parkway and the Hutchinson River Parkway, Post Road Plaza serves a growing residential population of nearly 411,000 people within a three-mile radius and 1.15 million people within five miles of the property. Additionally, more than 90,000 vehicles pass the property each day. For more information and current promotions, visit www.shoppostroadplaza.com.

LMC is marketing the property’s last remaining space of 5,600 square feet (divisible).

For 65 years, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. LMC today maintains a diversified, retail-focused portfolio of approximately 100 properties totaling 14 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s services continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

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