REAL ESTATE

Levin announces 27 lease transactions

BY Michael Fickes

North Plainfield, N.J. — Levin Management inked 27 new leases and lease renewals totaling more than 190,000 sq. ft. over the past several months.

Northern New Jersey (Passaic, Essex, Bergen and Somerset counties)

• At West Orange Plaza in West Orange, Essex County, Levin signed a 14,115-sq.-ft. lease with Retro Fitness. In neighboring Passaic County, at Clifton Plaza in Clifton, Levin signed another gym for 15,000 sq. ft. and is overseeing its ground-up construction there.

• In Somerset County, Levin closed three transactions at Rutgers Plaza in Franklin Township. This included a new, 1,802-sq.-ft. lease by La Perle Spa & Salon as well as renewals by Dress Barn (9,675 sq. ft.) and Ashley’s Hallmark (3,000 sq. ft.). Additionally, two new tenants signed leases The Hills Village Center in Bedminster, including Liberty Travel (1,853 sq. ft.) and JiHo Choi Taekwon-Do Institute (4,155 sq. ft.). Verizon Wireless also renewed its 2,273-sq.-ft. location there. In nearby Watchung, GameStop renewed its 1,825-sq.-ft. lease Blue Star Shopping Center.

• In Bergen County, Levin signed three new leases at Edgewater Harbor in Edgewater, including Pampered Pregnancy Boutique (6,000 sq. ft.), Edgewater Eyecare (1,050 sq. ft.), and Touch of Elegance (206 sq. ft.). Additionally, Party City renewed its 13,644-sq.-ft. lease at Paramus Place in Paramus.

Central New Jersey (Mercer and Monmouth counties)

• In Mercer County, at Capitol Plaza in Ewing Twp., Levin signed a new lease with Super Laundry Equipment Corp. (3,175 sq. ft.). Additionally, Forman Mills renewed its 43,657-sq.-ft. location there. At Hamilton Plaza in nearby Hamilton Twp., Radio Shack signed a new lease for 2,556 sq. ft.

• Further south in Monmouth County, Ming Ho Dynasty leased 1,400 sq. ft. at Aldrich Plaza in Howell.

New York

• In Westchester County, Levin renewed A&P’s 30,000-sq.-ft. lease at 668 Central Park Avenue in Scarsdale.

• In neighboring Rockland County, Nutrition Zone leased 800 sq. ft. at Stateline Plaza I, and Wendy’s renewed its commitment at Orangetown Plaza. Both properties are located in Tappan.

• In Suffolk County, Levin negotiated a 2,500-sq.-ft. lease with Choice Pet Supply, an 800-sq.-ft. lease with H&R Block, and a 960-sq.-ft. renewal with Mayfair Barber at Mayfair Shopping Center in Commack.

Pennsylvania

• In Bensalem (Bucks County), Salon 724 leased 2,300 sq. ft., while Curves renewed its 1,700-sq.-ft. lease at Centre Plaza.

• Levin also inked a 2,500-sq.-ft. renewal with Werner Books at Liberty Center in Erie (Erie County).

Virginia

Crossroads Place in Falls Church (Fairfax County) welcomed Mattress Warehouse, which leased 21,404 sq. ft.

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REAL ESTATE

Pine Tree names Ryan Montes property manager

BY Michael Fickes

Northbrook, Ill. Pine Tree Commercial realty has appointed Ryan Montes to the post of property manager and asset management coordinator. Montes will manage three Pine Tree assets, while overseeing quarterly asset management meetings and portfolio reporting.

Montes comes to Pine Tree from Miller Capital Advisory’s asset management and reporting group, where he handled reporting and analysis for over 10.4 million sq. ft. of regional and lifestyle shopping centers.

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REAL ESTATE

Lloyd Center to acquire department store space

BY Michael Fickes

Portland, Ore. — Cypress Equities, the management company for Lloyd Center in Portland, Ore., has announced that the Center’s owners intend to purchase the 130,000-sq.-ft. building currently owned and occupied by Nordstrom. The acquisition is part of the center’s recently announced renovation plans.

Plans call for the building to change hands in January of 2015. Nordstrom has notified its employees that the store will close.

“We believe the Nordstrom building might better serve Lloyd Center shoppers if it featured alternative uses,” said Chris Maguire, CEO of Cypress Equities. “Our leasing team is exploring other retail and service options that will not only complement the mall’s existing mix, but provide our shoppers with unique offerings not available at other Portland-area shopping centers.”

Lloyd Center is an enclosed, three-level, 1,200,000-sq.-ft. regional shopping center located near downtown Portland with close proximity to the Oregon Convention Center, Moda Center and Memorial Coliseum.

The center was developed in 1960 as the largest shopping center in the country. Lloyd Center features six anchor stores, more than 150 specialty shops, a 900-seat food court, plus an indoor ice-skating rink and an eight-screen movie theater. With an impressive lineup of shops and restaurants, it is still one of the largest shopping centers in Oregon.

Lloyd Center showcases many of today’s most compelling and popular retail brands, including anchor stores Macy’s, H&M, Sears, Marshalls, Barnes & Noble Booksellers and Ross Dress for Less. Other highlights include the recent addition of Ulta, a newly expanded Forever 21 and an array of other tenants including Aeropostale, American Eagle Outfitters, Bath & Body Works, Ben Bridge Jeweler, G by Guess, GAP, Hollister, Journeys, Loft, Old Navy, Vans, Victoria’s Secret and Zumiez.

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