"The Shops at 5 is an exciting addition to our management portfolio. Although this is Levin's first shopping center assignment in Massachusetts, it's really just an extension of our industry expertise in all aspects of retail property management," said Robert Carson, Levin's executive vice president. "We intend to put our signature on how The Shops at 5 is maintained and how we respond to tenants' needs, while at the same time applying our proven management standards to all aspects of the center's operation."
This new assignment is particularly noteworthy because the center's owner is a current Levin client, added Carson. "This is a prime example of how we expand our business by taking care of our clients and their assets," he said. "Levin's integrated management, leasing, marketing, construction management and accounting expertise consistently helps the centers we lease and manage to outperform the market, and puts these properties in position to thrive."
Northeast Market Gains Momentum
The Shops at 5, ideally situated off Route 3 at Exit 5 on Long Pond Road, is among the area's most dominant retail destinations. The property combines the selection and convenience of a power center with the uniqueness and variety of a specialty center. Anchor tenants include BJ's Wholesale Club, TJ Maxx/HomeGoods, and Kohl's. Other major retailers include The Sports Authority, PetSmart, Pier 1 Imports, Panera Bread and IHOP.
Located just 40 miles south of Boston, Plymouth is one of the most historic and fastest-growing communities in Massachusetts. The Shops at 5 serves a residential population of more than 105,800 people within a 10-mile radius. The marketplace offers an average household income of $95,840 and the daily traffic count along Route 3 exceeds 60,000 vehicles.
Levin continues to capture market share opportunities as an increasing number of retailers, malls and shopping centers tap into the firm's value-add retail services. The latest appointment comes on the heels of several new assignments for Levin in recent weeks.
In Edison, N.J. the firm was recently named managing agent for Festival Plaza, a 151,000-square-foot, Asian-themed, grocery-anchored property. In Eatontown, N.J. Levin was selected as leasing agent for the 30,000-square-foot Eatontown Plaza. The firm also has been named exclusive leasing agent for Stafford Park Shopping Center in Manahawkin, N.J. This 650,000-sqaure-foot center is part of a 350-acre mixed-use redevelopment project and offers availabilities ranging from pad sites to anchor space of more than 100,000 square feet. Current tenants include Target, Costco, Dick's Sporting Goods, Best Buy and Ulta.
Levin Management is one of the nation's leading retail real estate services firms, with a strong focus in the northeastern United States and an owner's approach to the business. The firm's portfolio and internal resources have grown consistently over the years, responding to a variety of retail and economic climates. Today, Levin offers a full range of services for a diverse portfolio that encompasses approximately 95 properties and more than 13 million square feet. These services include leasing, property management, accounting, construction management and marketing. Levin specializes in repositioning, retenanting and renovating retail properties - areas that have become particularly vital for today's institutional and individual property owners.
With headquarters in North Plainfield, N.J., Levin serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, street retail, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Massachusetts, Virginia, and North Carolina. In business for six decades, the company taps into its associated, expansive tenant roster to conduct Retail Sentiment Surveys three times each year that provide insight on industry trends and sales performance.
Levin has earned a long list of coveted awards over the years. Since 2011 alone, the firm was ranked 30th among Top US Real Estate Companies and named three times among the nation's top property managers by Commercial Property Executive magazine, placed among the nation's top 10 redevelopers by Chain Store Age, credited as one of the state's top 10 real estate developers by New Jersey Business magazine, and ranked third on NJBIZ's Top Property Management Companies list and sixth on NJBIZ's Top Commercial Real Estate Developers list.