New Assignment Expands Levin Management’s Bergen County Portfolio
Firm Named Managing Agent for Marketplace at Edgewater in Edgewater, N.J.
EDGEWATER, N.J., Aug. 3, 2020 – Commercial real estate services firm Levin Management Corporation (LMC) has been named exclusive managing agent for Marketplace at Edgewater, a popular, 73,000-square-foot shopping center located at 725 River Road in Edgewater. The assignment represents the expansion of LMC’s Bergen County shopping center portfolio and underscores the North Plainfield, N.J.-based company's expertise in grocery-anchored retail, according to Joseph Lowry, senior vice president of acquisitions and business development.
Set on almost six acres, Marketplace at Edgewater is strategically located in New Jersey’s affluent “Gold Coast” market along the Hudson River. The property’s tenant roster includes Trader Joe’s, Orangetheory Fitness, Harmon Face Values, Pet Valu, Massage Envy and River Pet Resort & Rehab, among others, along with eight privately owned restaurants, which are all open with outdoor dining.
“Marketplace at Edgewater is a well-occupied, service-oriented center with an Internet-resistant tenant mix – including one of the most desirable specialty grocers,” said Lowry. “In addition to its high-profile nature, this appointment is particularly rewarding because it represents our first assignment with Capstone Realty Group. We intend to apply our proven management standards to all aspects of the center’s operation, to further enhance the property’s operational efficiency and maximize its strong curb appeal. Capstone was particularly looking for our expertise and guidance to optimally navigate through the current COVID-19 retail environment.”
Rob Friedberg, managing partner of Capstone added, “Marketplace at Edgewater, which has 33 tenants, has been more than 98% leased for the past six years. We chose Levin to manage our property due to their extensive experience and expertise with properties like this. Additionally, we felt that Levin will make a great partner with our leasing agents at Ripco.”
For nearly seven decades, LMC has served as a trusted single-source commercial real estate services provider for institutional and private owners. The company today maintains a diversified, retail-focused portfolio of 110 properties totaling almost 15.5 million square feet in the Northeast and Mid-Atlantic states – including a notable proportion of grocery-anchored centers.
LMC helps its clients operate properties and create case-specific solutions to protect and improve asset value; it has distinguished itself as a firm large enough to excel in assignments of any scale while continuing to employ a hands-on, proprietary approach in every facet of its business. The firm offers leasing, property management, financial management and reporting, construction management 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.