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BEDMINSTER, NJ-Wachovia Securities has renewed its lease at the Village at Bedminster. The firm is moving from its storefront location at the retail property to second-floor offices.

The deal, which involves 4,572 sf of office space, was arranged by Stanley Bernstein, leasing rep for Levin Management Corp. of North Plainfield, NJ, exclusive leasing and managing agent for the 110,000-sf property. Levin picked up the assigned after the property was acquired just over a year ago by ING Clarion on behalf of a client. Terms of the lease were not released.

“We saw an opportunity to increase the retail profile of the Village and place Wachovia in an environment more conducive to its service business profile,” Bernstein says. “It’s a situation where all the parties wind up in a stronger position. We felt that the property would be better served by bringing in more retail to replace some of the service uses we found when we were appointed as manager.”

The 4,260 sf being freed-up by the investment firm’s relocation is located adjacent to a 10,000-sf CVS pharmacy, one of the property’s anchor tenants. The center is co-anchored by a 31,000-sf Kings Supermarket, and other tenants include PNC Bank, UPS Store and Hallmark. The Village at Bedminster itself is located within the Hills, a residential development that will build out to 5,000 units. It’s also directly across from two office buildings, according to Bernstein.

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