Momentum Reflects Sustained Open-Air Demand
Brick-and-mortar retail continues to demonstrate its strength,with open-air shopping centers leading the way, according to Levin Management Corporation (LMC). The North Plainfield-based commercial real estate services firm completed 68 transactions – including new leases, renewals, extensions and license agreements – totaling nearly 570,000 square feet through mid- 2025.
Discount retailers represented the single largest share of activity, accounting for approximately 115,000 square feet, while experiential and fitness operators followed with nearly 60,000 square feet. Together, these categories highlight consumer appetite for both value-driven shopping and lifestyle-oriented opportunities.
“The open-air sector continues to outperform its retail real estate peers,” said Matthew Harding, LMC’s chief executive officer. “Retailers are prioritizing open-air centers in high-demand corridors that provide the visibility and convenience they need to succeed. That positions Levin-managed properties and their tenants to excel in today’s evolving retail landscape.”
Property and Brand Highlights
At the newly redeveloped Blue Star Shopping Center in Watchung, N.J., national tenants Burlington, Five Below and Taco Bell joined the mix, while long-time tenant Marshalls committed to a new store within the center. These leases represent more than 72,000 square feet of new commitments, underscoring the success of the property’s transformation. Earlier this year, the center also marked the opening of a state-of-the-art ShopRite, in a newly constructed store for the long-time anchor.
Additionally:
- In Woodbridge, N.J., Burlington signed on at the fully leased St. Georges Crossing, further expandingthe national discount retailer’s footprint within LMC’s
- In Commack, Y., Mayfair Shopping Center welcomed Gap Factory, continuing a period of leasing momentum with an emphasis on apparel.
- At Somerset Shopping Center in Bridgewater, J., Boot Barn introduced another nationally recognized brand to the property’s tenant roster, while Style Brow Bar brought a new personal care concept to the neighborhood.
Leasing Trends and a Positive Outlook
Leasing activity through mid-2025 underscores both the strength of today’s retail environment and diversity among active categories.
Heightened consumer demand for value-oriented shopping is reflected in the aforementioned Burlington, Five Below and Gap Factory commitments. The increasing role of shopping centers as destinations for experiences and fitness is illustrated in new, LMC-led leases with indoor pickleball facility PB Club at Twin City Shopping Center in Jersey City, N.J.; My Gym and Kids Empire at Mayfair Shopping Center; and Activate Games at St. Georges Crossing.
Beyond these leading categories, specialty retail and dining tenants added further depth to LMC’s results. At Flemington Marketplace in Flemington, N.J., Nothing Bundt Cakes and Norman’s Hallmark joined the tenant roster alongside Target, which recently celebrated its grand opening. These additions illustrate the diversity of operators pursuing growth in today’s market, from national chains to independent retailers.
“Following strong performance in 2024, during which our team completed more than 1 million square feet in leasing activity, our midyear 2025 results put us on course for another impressive year,” Harding said. “These deals reflect how retailers are adapting to consumer priorities – value, convenience and engaging experiences – and choosing open-air centers as the ideal platform to deliver them. With robust demand across categories and a healthy pipeline of prospects, we expect leasing velocity to remain strong through year-end and beyond.”
