Located in Southern Ocean County at the intersection of Route 72 and the Garden State Parkway, the retail portion of Stafford Park includes approximately 400,000 square feet of existing retail space, including anchor tenants Costco and Target, and is approved for another 195,000 square feet to be leased and built including several prime pad sites. Other tenants at Stafford Park include PetSmart, Dick's Sporting Goods, Best Buy and Ulta.
"This is a major power center with an outstanding location directly off the Garden State Parkway. There are not a lot of retail properties in the area that have this kind of access and visibility," said Lowry. "Levin is a landlord-focused retail services company and we bring to this assignment in-depth experience and strong guidance that all our clients have come to expect."
This significant leasing assignment underscores the depth and breadth of Levin's retail platform, and the confidence clients have in the firm's seasoned leasing professionals. The new project also illustrates the diversity of the firm's portfolio.
"Levin has a number of award-winning shopping center redevelopments under its belt, and extensive experience with leasing, redeveloping and repositioning shopping centers. Our depth of expertise is particularly effective when it comes to spearheading larger developments and redevelopments, and Stafford Park is a great example of that. In cases where activity at a center may have stalled, we are well-qualified to come in and jump-start a project."
Heading up the new leasing assignment for Levin will be Michael Cohen, vice president of leasing. "Michael has a very extensive leasing background and has developed strong relationships with all of the national and regional tenants, which is the key for these types of assignments," said Lowry.
The Stafford Park appointment follows several new retail assignments awarded to Levin in recent months. In Edison, the firm was named managing agent for Festival Plaza, a 151,000-square-foot, Asian-themed, grocery-anchored property. In Eatontown, Levin was selected as leasing agent for the 30,000-square-foot Eatontown Plaza.
Having celebrated its 60th year in 2012, 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. Today, the North Plainfield, N.J., company offers a full range of services for a diverse 90-property, 12.5 million-square-foot portfolio. These assets include neighborhood, community, lifestyle and power centers, as well as enclosed malls, street retail, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Virginia, and North Carolina. Levin specializes in repositioning, retenanting and renovating retail properties - areas that have become particularly vital for today's institutional and individual property owners.