Positioning Retail Real Estate for a New Generation

April 24, 2019

  • Posted on:  Monday, 29 April 2019 14:56
  • Written by 
Rate this item
(0 votes)

Northeast Cycle Coming Soon to Morrell Plaza in Philadelphia

Indoor Cycling Studio to Occupy 1,200 SF at Levin-Managed Shopping Center

PHILADELPHIA, April 24, 2019 – Fitness studio Northeast Cycle will join the tenant roster at Morrell Plaza in Philadelphia, announced Levin Management Corporation (LMC), the property’s exclusive managing and leasing agent. The boutique indoor cycling concept has leased 1,200 square feet of space at the 103,250-square-foot property, which is well-located directly on Frankford Avenue/Route 13.

Sidney Singer, LMC senior leasing representative, negotiated the long-term transaction. Mitch S. Russell of Wolf Commercial Real Estate/CORFAC International served as tenant representative.

“Fitness concepts are active players in today’s retail landscape and strong traffic drivers for shopping centers like Morrell Plaza,” said Singer. “Within this segment, boutique and independent studios with a single focus, like Northeast Cycle, provide a more personalized experience and are growing in popularity. This exciting new tenant will serve as an attractive amenity for area residents.”

Northeast Cycle will offer a wide range of weekday and weekend group fitness classes, with early morning and evening classes designed to accommodate members’ busy schedules, according to Dana Dobrowolski, owner. “What’s great about indoor cycling is that a bike’s resistance is easily adjustable,” she said. “This allows individuals to work at their own pace, making it a customizable, low-impact workout for virtually any age, skill and fitness level. There’s nothing like Northeast Cycle in this area, and our instructors already are working on designing fun and convenient classes to meet the needs of every client.”

In the coming weeks, Dobrowolski said a Northeast Cycle App will be available for download on Apple and Android devices, allowing clients the convenience of completing memberships and booking classes directly from a mobile device.

Morrell Plaza is anchored by a 63,000-square-foot, newly renovated ShopRite supermarket and a 12,700-square-foot Rite Aid drugstore. The tenant roster includes a mix of national, regional and local retailers and service providers including Freedom Credit Union, T-Mobile, Supercuts, Dunkin’ and Yamato Sushi & Hibachi, among others. The property serves a five-mile residential population of more than 400,000, and its daily traffic count exceeds 36,000 vehicles.

Space availabilities at Morrell Plaza range from 1,200 to 4,000 square feet.

For more than 65 years, North Plainfield, N.J.-based LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The firm today maintains a diversified, retail-focused portfolio of approximately 105 properties totaling 15 million square feet 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. LMC’s capabilities continue to evolve with new technologies, efficiencies and sustainability-focused initiatives to serve a new generation of properties, investors and tenants.

Read 3291 times Last modified on Monday, 29 April 2019 15:24