NORTH PLAINFIELD, NJ—Capitalizing on investors’ interest in professional real estate management of their retail properties, Levin Management Corporation has secured six new shopping center management assignments in New Jersey and Pennsylvania over the last six months, growing its portfolio to 105 properties totaling 15 million square feet.
The expansion reflects heightened demand for the firm’s fully integrated third-party commercial real estate services.
“Shopping center owners—whether they be institutional or individuals—understand that maximizing the value, improving the efficiency and maintaining the appeal of their properties is becoming increasingly complex,” says Robert Carson, Levin’s executive vice president. “Our newest assignments come on the heels of a record year for new business in 2017. Existing and new clients appreciate our expertise and the guidance we provide. This is particularly valuable in the current retail environment, where seamless, expert operation plays a significant role in a property’s success and ongoing competitive positioning.”
In New Jersey, Levin was named exclusive managing agent for Kearny Square in Kearny, a 138,895-square-foot, fully-leased retail center anchored by BJ’s Wholesale Club. The firm was also selected to manage Oak Tree Center in Edison, a 189,000-square-foot community shopping center anchored by India Grocers, and was named asset manager of power center ITC Crossing South in Mt. Olive.
The new ownership of Festival Plaza in Edison hired Levin to continue its role as exclusive managing agent at the grocery-anchored shopping center. Similarly, the new ownership at Wall Towne Center, a Wall Township property anchored by a newly expanded ShopRite, has retained Levin to continue as exclusive leasing and managing agent.
In Harrisburg, PA, Levin will be exclusive leasing and managing agent for High Pointe Commons. This 355,000-square-foot regional shopping center is shadow anchored by Target and JC Penney.
“This is a tremendous group of high-quality properties,” Carson says. “Whether we are coming on board to improve and upgrade property operations and image, and/or lease up available space, or simply continue in these capacities following an ownership change, our clients choose LMC because they value our track record and contributions as a landlord-focused real estate services provider.”
Levin offers leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services.