Levin Management Corp., a North Plainfield-based commercial real estate firm, announced on Thursday it has been named the leasing and managing agent for the Springfield Avenue Marketplace in Newark.
The 112,000-square-foot center, located at 204-234 Springfield Ave., is anchored by a 67,000-square-foot ShopRite supermarket, LMC said.
“Making a management transition is a significant decision for any property owner,” Joseph Lowry, senior vice president of acquisitions and business development, LMC, said. “In the current retail and economic climate, it also involves a great deal of trust. This appointment is particularly rewarding because it demonstrates confidence in our ability to deliver high-quality real estate services.”
Located in Newark’s University Heights neighborhood, the Springfield Avenue Marketplace serves a consumer base of around 215,000 and has a tenant mix of Snipes, Ashley Stewart, McDonalds, Taco Bell, Popeye’s Louisiana Kitchen, Sarku Japan, H&R Block, T-Mobile, Metro PCS, CityLife Clinic, uBreakiFix, and more.
LMC’s E.J. Moawad, leasing representative, will head the leasing team on this assignment. Initial efforts will target new tenants for the center’s vacant spaces, which include a 2,400-square-foot inline space and a pad site.
“On the management side, our goal is to uphold and enhance the center’s efficiency and curb appeal,” Lowry said. “Newark is undergoing a significant revitalization and this center, along with other nearby development activity, has been a catalyst for the neighborhood’s ongoing transformation. Springfield Avenue Marketplace is a great addition to our regional portfolio, and we look forward to utilizing our expertise in all aspects of property operations to position this center for long-term success.”