Positioning Retail Real Estate for a New Generation

September 3, 2014

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September 3, 2014


National Off-Price Retailer Leases 30,800 Square Feet at Levin-Managed Center

COMMACK, N.Y., Sept. 3, 2014 – Stein Mart, a discount apparel and home fashion retailer, is set to join the tenant mix at Mayfair Shopping Center in Commack, leasing 30,800 square feet, according to Levin Management, exclusive leasing and managing agent for the property. Located in the heart of Long Island, N.Y., the 221,000-square-foot shopping center is one of the region’s premier retail destinations.

Levin’s senior leasing representative Jake Frantzman negotiated the transaction. SRS Real Estate Partners represented the tenant.

“Stein Mart is an excellent strategic fit as it enhances Mayfair Shopping Center’s existing apparel offerings, and complements the center’s lineup of retailers, service providers and restaurants,” said Frantzman. “Stein Mart is rapidly expanding its nationwide presence, and Mayfair Shopping Center represents a key market for the brand’s continued growth.”

Headquartered in Jacksonville, Fla., Stein Mart is a national retailer with more than 260 locations in 29 states. Each store offers a distinctive assortment of current-season, brand-name fashion apparel for women and men, along with accessories, home décor, linens and shoes – all at prices up to 60 percent off brand name and specialty merchandise, every day. Brand offerings include Coach, Michael Kors, Anne Klein, Vince Camuto, Robert Graham, Tommy Hilfiger, Nautica, Nine West and Vera Bradley, among many others.

Stein Mart is moving into the space formerly occupied by MJM Designer Shoes. The brand-name shoe, sandal, boot and sneaker retailer is relocating to a new 12,000-square-foot space within the shopping center. Smartphone and tablet expert I-Fix-Screens also recently joined the center’s tenant mix, leasing 1,200 square feet.

Well located directly on the heavily traveled Jericho Turnpike just west of the Sunken Meadow Parkway, Mayfair Shopping Center serves a growing residential population of more than 205,000 people within a five-mile radius. The marketplace offers an average household income of more than $116,800, and the daily traffic count exceeds 29,000 vehicles.

Anchored by a 60,000-square-foot Waldbaum's supermarket, the center’s impressive lineup of national and regional tenants includes Gap/Gap Kids, Ann Taylor Loft, New York & Company, MJM Designer Shoes, Justice, Jos. A. Bank, Red Mango, Chico’s, Claire’s Accessories, GameStop, Verizon Wireless, Rite Aid, Sherwin Williams, Cactus Beauty Salon, Capital One Bank, H&R Block, Outback Steakhouse and Choice Pet Supply, which opened for business in August.

Two inline spaces (1,320 SF and 2,500 SF) and a newly constructed 3,750-square-foot end cap restaurant space remain available.

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 seventh on NJBIZ’s Top Commercial Real Estate Developers list.

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