Levin Management Corp. (LMC) has added five additional retail centres to its quickly expanding third-party management portfolio.
Two deals delivered 584,000sq ft of space into the hands of the North Plainfield, New Jersey, company which reports to have increased its workload by a total of two million square feet of space in just the past two years.
Four neighbourhood retail centres comprise one of the deals. Two of them, Park East Plaza and North Mall Plaza, are located on Haddonfield Road in Cherry Hill, New Jersey. The other two, Ridley Town Plaza and RJ Vista Plaza, are positioned on the same thoroughfare of McDade Boulevard in Folsom, Pennsylvania.
The second deal includes just one retail property: Manchester Plaza, a ShopRite and Lowes-anchored shopping centre on Route 70 in Manchester Township, New Jersey. Included in that contract are Class-A office buildings in Toms River and Tinton Falls.
“These assignments are particularly rewarding because they represent our first projects with two established and knowledgeable private owners who previously were managing their assets in-house,” said Joseph Lowry, LMC’s Senior VP of Acquisitions and Business Development. “Both are familiar with Levin’s high-quality commercial real estate services and entrusted us to bring that same level of consistency to their portfolios.”
