Commitments Bring Somerset and Monmouth County Properties to 100% Occupancy
Levin Management Corporation (LMC) has arranged two retail leases totaling a combined 7,150 square feet, bringing New Jersey shopping centers in Somerset and Monmouth counties to 100% occupancy. The activity reflects the continued tightening vacancies at well-located open-air shopping centers statewide.
- At Hamilton Street Center, a 27,700-square-foot neighborhood shopping center in Franklin Township, Red Tag Furniture Outlet committed to 5,750 square The store is a new venture for the same operator behind All Brands Furniture, a discount furniture store with locations in South Plainfield, Perth Amboy and Green Brook. Red Tag Furniture Outlet will sell quality, discounted furniture for every room of the home along with accessories and mattresses. LMC Senior Leasing Representative Vanessa Kelty spearheaded the lease transaction.
- At Wall Towne Center in Manasquan, Nicholas Creamery committed to 1,400 square feet in a lease arranged by Sidney Singer, LMC vice president of The locally owned, small batch ice cream shop has five existing area locations in Atlantic Highlands, Tinton Falls, Fair Haven, Long Branch and Middletown. Extending a history of strong occupancy, the transaction is a rapid backfill of a unit that only recently became available at the 100,000-square-foot community retail property in Manasquan.
“The open-air sector performed well through the first quarter of 2024, with retailers remaining active in the market,” Singer said. “Within our leasing and management portfolio we currently have multiple retail properties with only one or two vacancies remaining, while an increasing number of centers are filling up entirely. Ongoing leasing successes are strengthening tenant mixes with a variety of retail, dining, experiential and service concepts that are benefiting the communities these properties serve.”
LMC serves as leasing and managing agent for both Hamilton Street Center and Wall Towne Center. The two properties join a growing list of fully occupied properties in the firm’s New York and New Jersey portfolios. Other lease-ups reflecting current industry momentum include Clifton Plaza in Clifton, N.J., Route 9 Plaza in Old Bridge, N.J., Warren Plaza in Washington, N.J., and Old Bridge Plaza in Hicksville, N.Y.
