North Plainfield-based Levin Management Corp. announced on Friday it has been named the exclusive managing agent for a shopping center in Edgewater.
Situated on 6 acres, Marketplace at Edgewater is a 73,000-square-foot popular shopping destination located at 752 River Road. The commercial real estate firm said the assignment represents an expansion of its Bergen County shopping center portfolio.
“Marketplace at Edgewater is a well-occupied, service-oriented center with an Internet-resistant tenant mix – including one of the most desirable specialty grocers,” Joseph Lowry, senior vice president and business development, said. “In addition to its high-profile nature, this appointment is particularly rewarding because it represents our first assignment with Capstone Realty Group. We intend to apply our proven management standards to all aspects of the center’s operation, to further enhance the property’s operational efficiency and maximize its strong curb appeal. Capstone was particularly looking for our expertise and guidance to optimally navigate through the current COVID-19 retail environment.”
The property’s tenants include Trader Joe’s, Pet Valu, Orangetheory Fitness, Massage Envy, Harmon Face Values and eight private restaurants (which are all open for outdoor dining), among others.
“Marketplace at Edgewater, which has 33 tenants, has been more than 98% leased for the past six years. We chose Levin to manage our property due to their extensive experience and expertise with properties like this. Additionally, we felt that Levin will make a great partner with our leasing agents at Ripco,” Rob Friedberg, managing partner of Capstone, said.