Commitments Underscore Firm’s Tenant Relationships, Industry’s Renewed Momentum
Commercial real estate services firm Levin Management Corporation (LMC) has arranged four long-term lease renewals with Dollar Tree at New Jersey and Pennsylvania retail properties. The discount variety store chain has committed to remaining a tenant at LMC leased and managed Brunswick Shopping Center (14,500 SF) in North Brunswick, Blue Star Shopping Center (10,300 SF) in Watchung, and Rutgers Plaza (9,400 SF) in Franklin Township, N.J.; and at Mid-Town Plaza (9,000 SF) in Middletown, Pa.
According to Sidney Singer, LMC’s vice president of leasing, the renewals underscore the firm’s deep relationships with prominent national retail brands, as well as the sustained appeal of the properties it represents. “These transactions also serve as a positive indicator that the retail industry, and activity within our own portfolio, is moving forward despite a challenging environment,” he said.
With today’s price-conscious consumer, value-oriented retail is among the industry’s strongest sub-sectors. “Dollar Tree is a strong national tenant and a significant traffic driver for any shopping center,” added Singer. “We are pleased the chain has renewed its commitment at these four properties and look forward to continuing our relationship for years to come.”
Headquartered in Chesapeake, Va., Dollar Tree operates more than 15,000 stores offering a wide assortment of everyday merchandise that includes many trusted national and regional brands. Product departments include housewares, glassware, dinnerware, cleaning supplies, candy, snacks, food, health and beauty, toys, gifts, gift bags and wrap, party supplies, stationery, craft supplies, books, seasonal décor, and more.
LMC has conducted a notable amount of business with other national brands in recent months as well. Burlington Stores, Planet Fitness, Lidl, Popeyes Louisiana Kitchen, Five Guys, Smoothie King, America’s Best Contacts & Eyeglasses, Great Clips and Teriyaki Madness, among others, have leased within the LMC portfolio. “LMC’s landlord clients value our relationships with today’s most sought-after tenants,” Singer said. “They recognize the inherent benefit as they work to fill vacancies with established brands that drive shopper traffic and bolster property image.”
