Positioning Retail Real Estate for a New Generation

May 25, 2016

  • Posted on:  Thursday, 26 May 2016 14:26
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Jersey Mike’s Signs Lease at Somerville Circle Shopping Center in Raritan, N.J.

Sandwich Chain to Occupy 1,100 SF at Levin-Managed Shopping Center

RARITAN, N.J., May 25, 2016 – Fast-casual sandwich chain Jersey Mike's has leased 1,100 square feet at Somerville Circle Shopping Center in Raritan, bringing this Somerset County shopping destination to full occupancy. North Plainfield-based Levin Management is exclusive leasing and managing agent for the 150,000-square-foot center.

Levin’s leasing representative Vanessa Fernandez negotiated the long-term lease. Gary Krauss of Pierson Commercial Real Estate served as the tenant’s broker in the transaction.

“Jersey Mike’s is growing its presence throughout the United States but until now did not have restaurants in the Bridgewater area,” said Fernandez. “This operator is extremely excited about opening in this location due in part to the shopping center’s visibility and strong demographics, including a daytime population of almost 90,000 people within a five-mile radius. Jersey Mike’s high-quality, affordable menu options are a great fit for Somerville Circle Shopping Center and we have no doubt this new location will be embraced by our shoppers as well as the local community.”

Offering a variety of freshly made hot or cold subs, Jersey Mike’s started at the Jersey Shore in 1956. Today, the franchise has more than 1,500 restaurants open and under development nationwide. Nation's Restaurant News named Jersey Mike's as its “Fastest Growing Franchise” in the Top 100 two years in a row (2014 and 2015).

Located at 300 Route 202 at the intersection of Routes 202/206 and Route 28, Somerville Circle Shopping Center is anchored by Toys “R” Us/Babies “R” Us, Staples, Petco and P. C. Richard & Son. Other national and regional tenants include Carter’s, Panera Bread, Burger King, Five Below and Harmon Discount. The center serves a growing residential population of more than 112,000 people within a five-mile radius. The marketplace has an average household income above $115,000 per year, and the daily traffic count on Route 202/206 exceeds 86,000 vehicles per day.

Levin today maintains a diversified, retail-focused portfolio of approximately 95 properties totaling 13 million square feet. The company specializes in repositioning, retenanting and renovating real estate – areas that have become particularly vital in an increasingly competitive market. Levin’s services continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

Read 2044 times Last modified on Thursday, 26 May 2016 15:11