Chester, N.J. — Levin Management Corporation (LMC) of North Plainfield, N.J., has added another quality Garden State assignment to its retail portfolio. The commercial real estate services firm has been named exclusive managing agent for Chester Springs, an approximately 226,000-square-foot, grocery-anchored shopping center in Chester.
Anchored by a 62,000-square-foot ShopRite supermarket, the center’s co-tenancy includes CVS Pharmacy, Marshalls, Panera Bread and independently owned/operated gym NitroFlex. Chester Springs soon will welcome off-price home decor and furniture brand HomeGoods to its lineup, which also features a complementary mix of retailers, restaurants and service providers.
“This is a high-quality and highly visible property directly on Route 206 in a market supported by excellent demographics — including an average household income exceeding $168,000 within a 5-mile radius,” notes Robert Carson, LMC president. “Chester Springs is a dominant center in its trade area and a great addition to our portfolio. As managing agent, we look forward to further maximizing the property’s curb appeal and ensuring an attractive, well-maintained shopping experience for both tenants and consumers.”
The Chester Springs appointment represents LMC’s first assignment with the property’s owner, Black Creek Group, a Denver-based real estate investment manager and development firm. LMC helps its clients evaluate options, operate properties and create case-specific solutions to protect and improve asset value; LMC has distinguished itself as a firm large enough to excel in assignments of any scale while continuing to employ a hands-on, proprietary approach in every facet of its business.
LMC today maintains a diversified, retail-focused portfolio of approximately 105 properties totaling 15 million square feet in the Northeast and Mid-Atlantic states, offering leasing, property management, financial management and reporting, construction and development, lease administration, marketing services, and acquisition and disposition consulting services. The company specializes in repositioning, re-tenanting and renovating commercial real estate.
SOURCE: Levin Management Corporation (LMC)