Positioning Retail Real Estate for a New Generation

December 9, 2019

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Levin Expands Garden State Portfolio with New Shopping Center Assignment

Firm Named Exclusive Managing Agent for Somerset Plaza in Franklin Park, N.J.

FRANKLIN PARK, N.J., Dec. 9, 2019 – Commercial real estate services firm Levin Management Corporation (LMC) has been named exclusive managing agent for Somerset Plaza Shopping Center in Franklin Park. The 67,500-square-foot retail property is well-located at 3151 Route 27 in the heart of Somerset County.

LMC will apply its best-in-class management standards to all aspects of Somerset Plaza Shopping Center’s operation, according to LMC’s Robert Carson, president. “Retenanting efforts currently are underway for a former supermarket space at the property, which will further bolster its appeal and competitive positioning in the marketplace,” he said. “Our efforts here initially will focus on maintaining and enhancing the center’s curb appeal.”

The assignment represents the expansion of LMC’s New Jersey retail portfolio and underscores the strength of the firm’s client relationships. “This ownership – for whom LMC currently manages two other properties – is familiar with our capabilities in delivering high-quality commercial real estate services and wanted to bring that same level of consistency to Somerset Plaza,” said Carson. “This assignment is particularly rewarding because it demonstrates how our ability to continually provide a high level of customer service fosters long-term business partnerships.”

Supported by strong demographics, Somerset Shopping Center’s co-tenancy includes Dollar General and PNC Bank, along with typical neighborhood conveniences such as restaurants and service providers.

For nearly seven decades, LMC has served as 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; it has distinguished itself as a firm large enough to excel in assignments of any scale while continuing to employ a hands-on, proprietary approach in every facet of its business.

LMC today maintains a diversified, retail-focused portfolio in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services. The company specializes in repositioning, retenanting and renovating real estate – areas that have become vital in an increasingly competitive market. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

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