Levin: Brisk leasing volume heading into year’s end

By Emily Bader
New Jersey | Nov 15, 2018 at 7:00 am

Levin Management Corp. announced Wednesday continued strong leasing volume, having executed about 533,000 square feet of transactions through October.

The North Plainfield-based commercial real estate firm said it maintains a portfolio of approximately 105 properties totaling more than 15 million square feet.

Matthew K. Harding, LMC’s president, said leasing volume is on the upswing heading into the end of this year.

“As we head into the final months of 2018, we are seeing the type of sustained transactional activity that propelled us to our healthiest leasing performance in recent years portfolio-wide in 2017,” Harding said. “This lasting momentum reflects the viability of bricks and mortar retail overall.”

Highlights from the firm’s leasing activity include:

  • Dunham’s Sports, 43,000 square feet at the Fairlane Village Mall in Pottsville, Pennsylvania;
  • Ulta Beauty, 13,000 square feet at the North Village Shopping Center in North Brunswick;
  • Comcast Xfinity, 4,000 square feet at St. Georges Crossing in Woodbridge;
  • Macchiato Espresso Bar, 1,800 square feet at 1501 Broadway in New York City;
  • LA Fitness, 62,400 square feet at the Brunswick Shopping Center in North Brunswick;
  • R&J Warehouse, 103,350 square feet at 140 Circle Drive North in Piscataway.

The restaurant industry, particularly fast-casual, comprise a large percentage of shopping center tenant mixes than ever before, Harding said.

“We recognize the value that fresh dining concepts add in terms of driving consumer traffic and creating a sense of ‘destination,’ ” he said. “To that end, much of our restaurant leasing activity this year has involved up-and-coming brands and independent restaurant owners looking to establish or expand their presence in the regional marketplace.”

Among them include:

Emily Bader | ebader@roi-nj.com | emilybader