Firm Named Leasing Agent for Planned Retail Development in Holmdel, N.J.
HOLMDEL, N.J., April 2, 2014 - Levin Management, one of the nation's leading retail real estate services firms, has been named the exclusive leasing agent for Holmdel Crossing, a planned 140,000-square-foot retail development in Holmdel, N.J. According to Joseph Lowry, Levin's director of acquisitions and business development, the assignment reflects Levin's depth of expertise in providing third-party leasing services for "ground up" retail developments as well as existing regional shopping centers.
Located on Route 35 between Union and Laurel avenues, Holmdel Crossing is situated on a heavily traveled thoroughfare in northern Monmouth County. Levin's pre-leasing efforts will focus on identifying anchor or junior anchor tenants that will drive the remaining retail tenancy, according to Lowry.
"Holmdel Crossing is a very exciting addition to our leasing portfolio and reinforces Levin's continued momentum in New Jersey's retail marketplace," he said. "We anticipate a great deal of interest in this proposed retail development due to the area's superb market demographics, and the property's excellent visibility and location, which is in the heart of an already strong and well-established regional retail corridor."
Easily accessible from Exit 117 of the Garden State Parkway, Holmdel serves a growing residential population of more than 75,000 people within a three-mile radius. The market offers an average household income of $102,862 and daily traffic in the center's transportation corridor exceeds 30,000 vehicles. Holmdel Crossing is surrounded by a number of thriving shopping centers featuring many of the largest names in retailing today, including Target, Kohl's, HomeGoods, Barnes & Noble, Costco and ShopRite, among others.
"The strength of the market area speaks for itself," said Michael Cohen, Levin's vice president of leasing, who is heading up the new shopping center assignment for Levin. "The combination of population density, income levels and impressive daily traffic counts make this a particularly attractive location. Our goal is to build value for this property while attracting top-tier tenants."
Holmdel Crossing is the latest in a growing number of significant new assignments for Levin in recent months. The firm was named exclusive managing agent for The Grove at Plymouth, a 420,000-square-foot open-air shopping center in Plymouth, Mass.; managing agent for Festival Plaza, a 151,000-square-foot, grocery-anchored property in Edison, N.J.; and leasing agent for the 30,000-square-foot Eatontown Plaza in Eatontown, N.J. Levin also was named exclusive leasing agent for Stafford Park Shopping Center in Manahawkin, N.J., a 650,000-square-foot center part of a 350-acre mixed-use redevelopment project.
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.