Positioning Retail Real Estate for a New Generation

June 30, 2014

DD'S DISCOUNTS OPENS FIRST NEW JERSEY STORE AT LEVIN-MANAGED CAPITOL PLAZA IN EWING

Discount Apparel and Home Fashion Retailer Occupies 20,000 Square Feet

EWING, N.J., June 30, 2014 – dd’s Discounts, a nationwide chain of off-price apparel and home fashion stores, has opened its first New Jersey location at Capitol Plaza in Ewing. The retailer occupies 20,000 square feet at the key Mercer County shopping destination, according to Levin Management, exclusive leasing and managing agent for the 360,000-square-foot center.

Michael Cohen, Levin’s vice-president of leasing, negotiated the long-term lease. Jonathan Rome and Richard Lipsky of CBRE/FAMECO served as tenant broker in the transaction.

Capitol Plaza continues to attract a well-rounded mix of retailers, restaurant and service tenants, according to Cohen. “We are pleased to introduce dd’s Discounts to area shoppers, who will find great bargains in a convenient and easy-to-shop environment,” he said. “dd’s Discounts has a strong national following and they felt the timing was right to enhance their market presence in the Northeast. Capitol Plaza’s strong demographics, along with excellent visibility and access, made it a perfect fit for the brand’s expansion into the Garden State.”

A division of Ross Stores, dd’s Discounts features exceptional values on a wide assortment of current fashions, at 20 to 70 percent off moderate department and discount store prices. Merchandise includes in-season name-brand apparel, accessories and footwear for the entire family, as well as home fashions. Including its newest store at Capitol Plaza, dd’s Discounts operates approximately 140 locations in 11 states. The company is on schedule to complete its expansion plan to open approximately 20 new locations in 2014.

Located on the heavily traveled North Olden Avenue at the junction of Route 206 (Princeton Avenue), Capitol Plaza serves a growing residential population of more than 247,000 people within a five-mile radius. The marketplace offers an average household income of more than $77,000 and a daily traffic count of 51,000 vehicles.

dd’s Discounts complements a diverse tenant mix of national and regional tenants including Forman Mills, Marshalls, Save-A-Lot supermarket, American Furniture, Planet Fitness, Harbor Freight Tools, American Furniture, Ashley Stewart, GNC, the U.S. Armed Forces Career Center, Foot Locker and Kicks USA, along with numerous service and restaurant tenants. Capitol Plaza also is home to 1001 Spruce Office Center, as well as a newly expanded 30,500-square-foot Jersey College.

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.