Positioning Retail Real Estate for a New Generation

September 14, 2020

  • Posted on:  Tuesday, 15 September 2020 20:04
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Burlington Stores Opens at Levin-Managed Somerville Circle Shopping Center

Anchor Backfill Reflects Success of Fully Occupied Raritan, N.J., Property

RARITAN, N.J., Sept. 14, 2020 – This month, national off-price retailer Burlington Stores celebrated the grand opening of its new location at Somerville Circle Shopping Center, 300 Route 202 in Raritan. The fully leased,150,000-square-foot shopping center is exclusively leased and managed by Levin Management Corporation (LMC).

Burlington occupies a free-standing box formerly occupied by Toys “R” Us/Babies “R” Us. Somerville Circle Shopping Center is anchored by Staples, Petco and P. C. Richard & Son. Other national and regional tenants include a recently opened America’s Best Contacts & Eyeglasses store, Carter’s, Jersey Mike’s, Panera Bread, Burger King, Five Below and Harmon Discount.

“Burlington is a terrific anchor addition for this property, which already is a popular shopping destination for regional consumers,” noted LMC’s Vanessa Fernandez-Kelty, senior leasing representative, who negotiated the Burlington lease. “This is a great example of our efforts not just to fill space, but to fill space with the right tenant – one that complements its co-tenancy and adds to a property’s dynamic. We are celebrating this opening right along with Burlington Stores, which will play a key role in maintaining Somerville Circle Shopping Center’s market-leading position for years to come.”

Located at the intersection of Routes 202/206 and Route 28, Somerville Circle serves a growing residential population of more than 113,000 people within a five-mile radius.

Burlington had over 730 stores as of the end of the first quarter of Fiscal 2020, in 45 states and Puerto Rico. Stores offer new arrivals daily featuring prices that will “wow” you. Enjoy great deals every day on ladies’ apparel, menswear, children’s clothing, family footwear, everything for baby, a variety of accessories, home décor items and gifts for every occasion. At Burlington, shoppers enjoy the same brands and styles that they can get from other retailers, but for much less.

“Off price retailers are a bright spot in the current marketplace, and Burlington – which is aggressively expanding its footprint – is no exception,” said Fernandez-Kelty. “With the current economic situation, this category has more appeal than ever for cost-conscious shoppers.” LMC also recently arranged a Burlington Stores lease at Mill Creek at Harmon Meadow in Secaucus, N.J., on behalf of another client.

For nearly seven decades, North Plainfield, N.J.-based LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm today maintains a diversified, retail-focused portfolio of 110 properties totaling nearly 15.5 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction management and development, lease administration, marketing services, and acquisition and disposition consulting services. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

Read 33 times Last modified on Tuesday, 15 September 2020 20:08