Levin Management Arranges Two Leases with Wingstop in N.J. and Pa.
Activity Underscores Continued Momentum in Fast-Casual Restaurant Segment
NORTH PLAINFIELD, N.J., Oct. 1, 2019 – Commercial real estate services firm Levin Management Corporation (LMC) has signed two leases with fast-casual, aviation-themed chicken restaurant Wingstop in New Jersey and Pennsylvania.
The Dallas, Texas-based franchise inked a 2,200-square-foot lease at Capitol Plaza in Ewing, N.J., with LMC’s Andrea Kyriacou serving as landlord representative and JLL’s Marta Villa acting as tenant broker. Wingstop also leased space at Morrell Plaza in Philadelphia. LMC’s Sidney Singer served as leasing agent for the property in that 1,650-square-foot transaction, with David Dunkelman from Soloff Realty & Development Inc. representing Wingstop.
According to Stephanie Harris, LMC vice president of leasing, the Wingstop signings reflect continued momentum in the fast-casual dining segment. “The last several years have seen an influx of dining-tenant leasing at LMC properties and nationwide,” she said. “Fast-casual concepts remain among the strongest players in the restaurant business today. Chains like Wingstop that offer a more direct focus in terms of cuisine – and where food is cooked to order using high-quality ingredients – have proven particularly successful at engaging consumers.”
With more than 1,100 tenants throughout its 105-property, 15 million-square-foot portfolio, LMC maintains a successful track record of arranging leases with prominent national and regional chains, in addition to regional and local retailers.
For nearly seven decades, the firm has served as a trusted single-source commercial real estate services provider for institutional and private owners. The company helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value; through its history, LMC 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 commercial 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.