Levin Ushers in 2021 with a Look Back on Progress Amid Challenges
700,000 SF of Transactions, New Agency Assignments and Staff Growth Among 2020 Highlights
NORTH PLAINFIELD, N.J., Jan. 26, 2021 – Amid the challenges of 2020, commercial real estate services firm Levin Management Corporation (LMC) achieved tangible progress – a promising sign for the industry moving into a new year. Over the past 12 months the North Plainfield, N.J.-based organization secured nearly 700,000 square feet of new leases and renewals, added new leasing and management assignments, solidified its staff with new hires/promotions, and garnered several industry recognitions.
Highlights of LMC’s retail leasing activity included an anchor lease with off-price retailer Burlington Stores at Mill Creek at Harmon Meadow (Secaucus, N.J.), a 24,000-square-foot lease with Aqui Market at Twin City Shopping Center (Bayonne, N.J.) and a 20,000-square-foot lease with Planet Fitness at Mayfair Shopping Center (Commack, N.Y.). LMC’s transactional activity also brought a host of renewals as well as new retailers and service providers to the region, punctuated by nearly one dozen leases with restaurant tenants – several of which have already launched operations. Other openings involved high-profile anchors like Lidl (North Brunswick, N.J.) and Burlington Stores (Raritan, N.J.).
Non-retail leasing highlights within LMC’s diversified portfolio included a 135,000-square-foot renewal by Hall’s Warehouse Corp. at Rutgers Industrial Center (Piscataway, N.J.).
“Despite the economic uncertainty and business-related disruptions facing our industry since March, there has been progress – with certain key dynamics coming into sharpened focus,” said LMC’s Matthew K. Harding, chief executive officer. “For example, positive landlord/tenant relations have always been important. During 2020, as tenants worked to navigate an incredibly difficult environment, we approached everything on a very granular basis, reviewing the distinctive needs and nature of each business. Likewise, we have done the same with our landlord clients and their individual properties to help them best respond to tenant requests and operational needs.
“This customized approach has always been central for our team; however, this year has intensified the practice to a new level that we will sustain moving forward,” Harding added. “This is an advantage we can provide over some of our larger, nationally focused peers.”
LMC also continued to expand its leasing and management portfolio, which today totals 110 properties totaling nearly 15.5 million square feet. The firm was appointed leasing and managing agent for Springfield Avenue Marketplace, a 112,000-square-foot supermarket-anchored property at 204-234 Springfield Avenue in Newark. In Bergen County, LMC was named exclusive managing agent for Marketplace at Edgewater, a 73,000-square-foot shopping center located at 725 River Road in Edgewater.
“Making a management transition is a significant decision for any property owner,” noted Joseph Lowry, LMC’s senior vice president of acquisitions and business development. “In the current retail and economic climate, it also involves a great deal of trust. These appointments are particularly rewarding because they demonstrate confidence in our ability to deliver high-quality real estate services.”
To support this business momentum, LMC focused on staff growth initiatives, including several strategic promotions and new hires in the leasing, accounting, property management and construction departments. At the executive level, Sidney Singer, formerly a senior leasing representative, was promoted to vice president of leasing. “Our internal promotions and new staff additions ensure that we will consistently meet, and exceed, client expectations as we strengthen Levin Management’s presence in key markets throughout the Northeast,” Harding commented.
Earning Industry Accolades
Capping off the year, LMC garnered several industry awards that acknowledged the outstanding performance of both its leasing and property management teams. Bradford Plaza (West Chester, Pa.) and Flemington Marketplace (Flemington, N.J.) both received the 2020 Kingsley Excellence Award, which distinguishes properties that exceed industry standards within New York Life Real Estate Investors’ portfolio. LMC’s Robert Oliver and Janet Amore, respectively, direct property operations at the two shopping centers.
Senior Leasing Representative Vanessa Fernandez-Kelty was named a “Top Retail Leasing Broker” among CoStar Group’s Power Brokers. The award recognizes firms and individuals that close the highest transaction volume in commercial real estate sales and leases in their respective markets. Additionally, the Burlington Stores commitment at Mill Creek, led by Singer, was cited as a third quarter 2020 “Top Retail Leasing Deal” in the CoStar Power Broker Quarterly Deals awards.
“Our entire team has shown amazing resilience and dedication, making these accomplishments particularly gratifying,” said Harding. “This collection of awards underscores the commitment of our property management and leasing teams, both of which work tirelessly on behalf of our tenants and clients. With the continued efforts of our talented professionals and the promise of brighter times ahead, we are optimistic that 2021 will be a year of continued progress and positive momentum.’’
For nearly seven decades, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The company today maintains a diversified, retail-focused portfolio – including a notable proportion of grocery-anchored shopping centers, as well as industrial and office assets.
LMC helps its clients operate properties and create case-specific solutions to protect and improve 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. The firm offers 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.