Positioning Retail Real Estate for a New Generation

March 20, 2014

LEVIN MANAGEMENT ADDS DAVE & BUSTER'S TO POST ROAD PLAZA TENANT ROSTER

Popular Entertainment/Restaurant Chain Leases 41,300 Square Feet

PELHAM MANOR, N.Y., March 20, 2014 - Dave & Buster's is bringing its ultimate combination of food, games and fun to Pelham Manor, N.Y. The casual dining/entertainment chain has leased 41,300 square feet of space at Post Road Plaza, announced Levin Management, exclusive leasing and managing agent for the 260,000-square-foot shopping center.

Michael Cohen, Levin's vice president of leasing, negotiated the long-term lease. The tenant was represented by Tom Londres of Metro Commercial Real Estate; and Hugh Kelly and Erin Grace of SRS Real Estate Partners.

"Dave & Buster's unique brand of cutting-edge entertainment and dining will be an excellent draw to Post Road Plaza and significantly augment the center's existing retail mix," said Cohen. "We are confident Dave & Buster's will become a key amenity for local residents and a strong part of the community."

Headquartered in Dallas, Texas, Dave & Buster's operates more than 60 high-volume restaurant/entertainment complexes throughout North America. Each Dave & Buster's location offers an impressive selection of high-quality food and beverage items, combined with the latest high-tech video games and other attractions.

Anchored by a 75,000-square-foot Fairway Market, Post Road Plaza's lineup of national and regional tenants includes HomeGoods, Dress Barn, GNC, Lane Bryant, Annie Sez, Modell's, Hallmark, Citibank and Smashburger. Located at the junction of U.S. 1, Pelham Parkway and the Hutchinson River Parkway, Post Road Plaza serves a growing residential population of more than 1.1 million people within a five-mile radius. The marketplace offers an average household income of more than $65,000 and the daily traffic count exceeds 100,000 vehicles.

Post Road Plaza celebrated its grand re-opening in 2010 following a major renovation, repositioning and re-tenanting. Along with a new façade design; new signage; and new lighting, paving and landscaping, the second floor of the center was reconfigured for new tenant occupancy. This desirable second-floor availability was perfectly suited for Dave & Buster's space requirements.

"This transaction demonstrates how Levin's creative approach to managing adaptive reuse projects produced a vibrant retail space that will reshape and revitalize Post Road Plaza for years to come," said Matthew K. Harding, Levin's president. "The center's extensive aesthetic enhancements, coupled with its accessible location and strong market demographics, were added benefits to this tenant."

Levin is one of the nation's leading retail real estate services firms, with a strong focus in the northeastern United States and an owner's approach to the business. The firm's portfolio and internal resources have grown consistently over the years, responding to a variety of retail and economic climates. Today, Levin offers a full range of services for a diverse portfolio that encompasses approximately 95 properties and more than 13 million square feet. These services include leasing, property management, accounting, construction management and marketing. Levin specializes in repositioning, retenanting and renovating retail properties - areas that have become particularly vital for today's institutional and individual property owners.

With headquarters in North Plainfield, N.J., Levin serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, street retail, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Massachusetts, Virginia and North Carolina. In business for six decades, the company taps into its associated, expansive tenant roster to conduct Retail Sentiment Surveys three times each year that provide insight on industry trends and sales performance.

Levin has earned a long list of coveted awards over the years. Since 2011 alone, the firm was ranked 30th among Top US Real Estate Companies and named three times among the nation's top property managers by Commercial Property Executive magazine, placed among the nation's top 10 redevelopers by Chain Store Age, credited as one of the state's top 10 real estate developers by New Jersey Business magazine, and ranked third on NJBIZ's Top Property Management Companies list and fifth on NJBIZ's Top Commercial Real Estate Developers list.