Positioning Retail Real Estate for a New Generation

September 8, 2016

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CVS Pharmacy Renews, Expands at Chatham Plaza in Chatham, N.J.

Pharmacy Chain Now Occupies 14,200 SF at Levin-Managed Shopping Center

CHATHAM, N.J., Sept. 8, 2016 – National pharmacy chain CVS Pharmacy renewed its long-term lease and is expanding its square footage at Chatham Plaza in Chatham. The 31,500-square-foot shopping center is exclusively leased and managed by Levin Management of North Plainfield, N.J.

The 3,400-square-foot addition brings CVS Pharmacy’s total occupancy to 14,200 square feet. “As Chatham Plaza’s anchor tenant, CVS Pharmacy has experienced tremendous success at this location,” said Vanessa Fernandez, Levin’s leasing representative for Chatham Plaza.

“With this expansion the store is even more inviting and easy to shop, and offers a larger assortment of products,” Fernandez added. “The confidence that CVS Pharmacy has in Chatham Plaza solidifies the center’s position as a key local shopping destination for those who live and work in Chatham and surrounding communities.”

CVS Pharmacy, the retail division of CVS Health, is America's leading retail pharmacy with more than 9,600 locations. CVS Pharmacy is reinventing pharmacy to help people on their path to better health by providing the most accessible and personalized expertise, both in its stores and online at CVS.com.

Chatham Plaza’s tenant mix includes a C2 Education tutoring center along with typical neighborhood conveniences such as a pizzeria, a bagel shop, a nail salon, a dry cleaner and a taekwondo center. Located on Main Street, the center serves a growing residential population of more than 66,500 people within a three-mile radius. The average household income is $194,000 within those same three miles, and the daily traffic count on Main Street is 25,000 vehicles.

One 4,640-square-foot in-line space remains available at Chatham Plaza.

For more than six decades, Levin Management Corporation has been a trusted single-source commercial real estate services provider for institutional and private owners. The firm helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value. Levin today maintains a diversified, retail-focused portfolio of approximately 95 properties totaling 13 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, accounting, construction management and marketing. 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 1741 times Last modified on Monday, 12 September 2016 15:01