Levin Secures Six Shopping Center Assignments, Growing Portfolio to 15 MSF
Drive for Improved Performance Generates Strong Demand for Third-Party Solutions
NORTH PLAINFIELD, N.J., Aug. 21, 2018 – Levin Management Corporation (LMC) has secured six new shopping center assignments in New Jersey and Pennsylvania over the last six months, growing its portfolio to 105 properties totaling 15 million square feet and reflecting a heightened demand for the firm’s fully integrated third-party commercial real estate services.
“Shopping center owners – whether they be institutional or individuals – understand that maximizing the value, improving the efficiency and maintaining the appeal of their properties is becoming increasingly complex,” said Robert Carson, LMC’s executive vice president. “Our newest assignments come on the heels of a record year for new business in 2017. Existing and new clients appreciate our expertise and the guidance we provide. This is particularly valuable in the current retail environment, where seamless, expert operation plays a significant role in a property’s success and ongoing competitive positioning.”
In New Jersey, LMC was named exclusive managing agent for Kearny Square in Kearny, a 138,895-square-foot, fully-leased retail center anchored by BJ’s Wholesale Club. Additionally, LMC was selected to manage Oak Tree Center in Edison, a 189,000-square-foot community shopping center anchored by India Grocers, and in Mt. Olive was named asset manager of power center ITC Crossing South.
Rounding out its new assignments in the Garden State, LMC was retained by the new ownership of Festival Plaza in Edison to continue its role as exclusive managing agent at the grocery-anchored shopping center. Similarly, the new ownership at Wall Towne Center, a Wall Township property anchored by a newly expanded ShopRite, has retained LMC to continue as exclusive leasing and managing agent.
And, in Harrisburg, Pa., LMC was selected as exclusive leasing and managing agent for High Pointe Commons. This 355,000-square-foot regional shopping center is shadow anchored by Target and JC Penney.
“This is a tremendous group of high-quality properties,” Carson noted. “Whether we are coming on board to improve and upgrade property operations and image, and/or lease up available space, or simply continue in these capacities following an ownership change, our clients choose LMC because they value our track record and contributions as a landlord-focused real estate services provider.”
For more than 65 years, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value; it has distinguished itself as a firm large enough to excel in assignments of any scale while continuing to employ a hands-on, proprietary approach in every facet of its business.
LMC today maintains a diversified, retail-focused portfolio 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. The company specializes in repositioning, retenanting and renovating real estate – areas that have become particularly vital in an increasingly competitive market. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.