Positioning Retail Real Estate for a New Generation

October 17, 2019

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Burlington Stores Coming to Somerville Circle Shopping Center, Raritan, N.J., in Spring 2020

Levin Management Arranges 46,000-SF Lease with Leading Off-Price Retailer

RARITAN, N.J., Oct. 17, 2019 – Levin Management Corporation (LMC), exclusive leasing and managing agent for Somerville Circle Shopping Center, a 150,000-square-foot shopping destination in Raritan, is pleased to announce that national off-price retailer Burlington Stores plans to open a new, 46,000-square-foot location in Spring 2020.

LMC Senior Leasing Representative Vanessa Fernandez-Kelty arranged the lease; Clifford Simon and David Rosen of CNS Real Estate represented the tenant.

“Off price retailers are thriving in the current marketplace, and Burlington – which is aggressively expanding its footprint – is no exception,” said Fernandez-Kelty. Burlington operates approximately 690 stores in 45 states and Puerto Rico. Stores offer an extensive selection of in-season, fashion-focused merchandise at up to 60% off other retailers' prices every day, including women’s, men’s and youth apparel; baby and beauty products; footwear and accessories; everything for the home; and, of course, coats.

Burlington will occupy a free-standing box formerly occupied by Toys “R” Us/Babies “R” Us. Somerville Circle Shopping Center is anchored by Staples, Petco and P. C. Richard & Son. Other national and regional tenants include Carter’s, Jersey Mike’s, Panera Bread, Burger King, Five Below and Harmon Discount.

“Burlington is a terrific anchor addition for this property, which is an established ‘one-stop’ shopping destination for regional consumers,” Fernandez-Kelty noted. “This is a great example of our efforts not just to fill space, but to fill space with the right tenant – one that complements its co-tenancy and adds to a property’s dynamic.”

With the long-term Burlington commitment, Somerville Circle Shopping Center is near full occupancy, with just one, 3,000-square-foot availability remaining.

Located at 300 Route 202, at the intersection of Routes 202/206 and Route 28, Somerville Circle Shopping Center serves a growing residential population of more than 112,200 people within a five-mile radius. The marketplace has an average household income above $135,000 per year, and the daily traffic count on Route 202/206 exceeds 72,000 vehicles.

For nearly seven decades, 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 3847 times Last modified on Wednesday, 23 October 2019 16:00