Positioning Retail Real Estate for a New Generation

September 13, 2016

  • Posted on:  Tuesday, 13 September 2016 15:51
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West Marine to Open at St. Georges Crossing in Woodbridge, N.J.

Specialty Retailer’s 14,650 SF Lease Brings Levin-Managed Center to Full Occupancy

WOODBRIDGE, N.J., Sept. 13, 2016 – Boating goods retailer West Marine has leased 14,650 square feet at St. Georges Crossing in Woodbridge, bringing the 340,000-square-foot shopping center to full occupancy. Located at the intersection of heavily traveled Route 1 & 9 and Route 35, the key Middlesex County shopping center is exclusively leased and managed by North Plainfield, N.J.-based Levin Management.

Levin Leasing Representative Jordan Korris negotiated the long-term lease. Marta Person Villa of CBRE served as tenant’s broker in the transaction.

“West Marine will be a wonderful resource for local residents,” said Korris. “We are confident this newest addition to St. Georges Crossing will make a major contribution to the shopping center’s ongoing popularity.”

With more than 260 stores in 38 states and Puerto Rico, West Marine is recognized as a leading waterlife outfitter for cruisers, sailors, anglers and paddle sports enthusiasts. Founded in 1968, West Marine carries more than 110,000 products that support customers’ life on the water including boating/sailing and fishing gear, apparel, engine parts, paddle boards and kayaks, and electronic gear and equipment.

Other recent additions to the tenant mix at St. Georges Crossing include off-price fashion retailer T.J.Maxx and upscale American restaurant Blu Alehouse – both of which have enjoyed rapid, sustained success. Anchored by ShopRite and P.C. Richard & Son, St. Georges Crossing features a strong mix of retail, restaurant and service tenants also including PetSmart, Pier 1 Imports, AutoZone, Bertucci’s restaurant, Verizon Wireless, European Wax Center, Visionworks, Taco Bell and GameStop, among others.

The center serves a residential population of more than 352,400 people within a five-mile radius, and a daytime population of 160,000 in those same five miles. The daily traffic count exceeds 100,000 vehicles.

St. Georges Crossing is one of a number of properties within Levin’s shopping center portfolio to reach 100 percent occupancy in recent months, demonstrating renewed strength in both the economy and the northeast retail marketplace. The firm maintains a diversified 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.

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 company specializes in repositioning, retenanting and renovating real estate – areas that have become particularly vital in an increasingly competitive market. 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 7554 times Last modified on Tuesday, 20 September 2016 17:43