Strategic Anchor Placement Reinforces Firm’s Retail Leasing Expertise
Levin Management Corporation (LMC), representing the landlord of Evergreen Plaza in Staten Island, has negotiated a 62,000- square-foot anchor lease with the retailer-owned supermarket cooperative Wakefern Food Corp. The location at 150 Greaves Lane – in theheart of Great Kills – will operate as a ShopRite supermarket in the space formerly occupied by SuperFresh at the 100,000-square-foot shopping center.
The new ShopRite supermarket will be operated by Mannix Family Markets. A Wakefern member, Mannix Family Markets operates three other ShopRites in the borough. Work on the Mannix family’s fourth store at Evergreen Plaza is underway now and the supermarket is expected to open this fall.
The recent transaction underscores LMC’s established relationships with prominent national and regional retailers – and illustrates how that drives results for landlord clients, according to Joseph Lowry, senior vice president of acquisitions/business development.
“We have worked with Wakefern and a number of its members for decades, and we are pleased to see their continued expansion of state-of-the-art supermarkets into prime locations in key markets,” Lowry said. “Whether it’s grocery or any sought-after category, our 70-plus years of collaboration with established brands is a value-add for property owners looking to fill vacancies, drive shopper traffic, bolster property image and, most importantly, significantly enhance asset value.”
Grocery is a beneficial component for any shopping center, Lowry added. “The local community has long benefitted from the convenience of having a supermarket anchor at Evergreen Plaza. It is welcome news for area residents that ShopRite has chosen to locate here.” Mannix Family Markets also operates the ShopRite of Forest & Richmond in Graniteville, the ShopRite of Hylan Plaza in New Dorp and the ShopRite of Veterans Rd. in Charleston.
