Positioning Retail Real Estate for a New Generation

March 18, 2015

  • Posted on:  Wednesday, 18 March 2015 15:49
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Dollar Tree Signs Lease at Warren Plaza in Washington, N.J.

Discount Variety Store to Occupy 9,300 Square Feet at Levin-Managed Shopping Center

WASHINGTON, N.J., Mar. 18, 2015 – Dollar Tree, North America’s leading operator of discount variety stores, has leased 9,300 square feet of space at Warren Plaza in Washington, announced Levin Management, exclusive leasing and managing agent for the 61,000-square-foot shopping center. At the same time, the firm is gearing up to launch a new signage program and other improvements at the property this spring.

Levin’s Leasing Representative Jordan Korris negotiated the long-term lease. Danielle Brunelli-Albrecht of R.J. Brunelli & Co. LLC served as tenant’s broker in the transaction.

“Warren Plaza is highly accessible from Washington Borough’s two main thoroughfares, fronting directly on Route 57, near the intersection of Route 31,” said Korris. “The addition of a strong national tenant such as Dollar Tree is the first step towards revitalizing this shopping center. With many of today’s consumers focused so highly on value, we are confident Dollar Tree will be a welcome addition to the local community.”

Headquartered in Chesapeake, Va., Dollar Tree is the largest and most successful single-price-point retailer in North America, operating thousands of stores across 48 states and five Canadian provinces. Dollar Tree stores carry a broad mix of merchandise that includes many trusted national and regional brands.

Additionally, Levin will install new pylon signage at Warren Plaza and implement a program of property improvements including parking lot and façade upgrades. The firm currently is marketing space availabilities at Warren Plaza ranging from 4,400 square feet to 35,765 square feet.

Situated at the edge of the Borough’s downtown area, Warren Plaza serves a growing residential population, and its marketplace offers an average household income of more than $93,000. The property is home to a New Jersey state agency office, while nearby national and regional retailers include ShopRite, Verizon Wireless, Advance Auto Parts, Dunkin’ Donuts and Tractor Supply Co.

Headquartered in North Plainfield, N.J., Levin Management 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 offers a full range of services for a diverse portfolio that encompasses approximately 95 properties and more than 13 million square feet, including leasing, property management, accounting, construction management and marketing. 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.

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