Levin Brings Ollie's Bargain Outlet to River Plaza in Union, N.Y

Closeout Retailer Commits to 29,423 Square Feet, Fills Key Anchor Vacancy. End Quote

New York, NY (1888PressRelease) March 09, 2011 - Ollie's Bargain Outlet has leased 29,423 square feet at the River Plaza shopping center in Union, N.Y., announced retail real estate services firm Levin Management Corporation, the property's exclusive leasing and managing agent. The Mid-Atlantic's largest retailer of closeout, surplus and salvage merchandise, Ollie's will open at the 177,871-square-foot property in September of this year - filling a key anchor vacancy.

"The addition of Ollie's is a major boost for River Plaza and introduces a welcome new retail concept for area consumers," noted Levin's Dale Mulartrick, who negotiated the long-term transaction. "This space formerly housed a non-retail use, which makes this high traffic-generating tenant a real win for the center." Ollie's was represented by Tracy Lauer of Widewaters.

Anchored by a 132,000-square-foot Home Depot, River Plaza enjoys a highly visible location at the intersection of Main Street (Route 17C) and Endwell Street; more than 35,000 vehicles pass the property each day. Other tenants there include Window World and A & A Beauty Supplies.

"Ollie's is a great store and an ideal fit for River Plaza, particularly in light of today's continued consumer demand for value retail," noted Matthew K. Harding, Levin's president and chief operating officer. Ollie's currently operates 95 locations along the Eastern Seaboard from New York to North Carolina, and inland to West Virginia, Ohio and Kentucky.

According to Jerry Altland, Ollie's VP of Real Estate, "We have looked in the Binghamton area for a number of years for a store there - we like the area. Being a neighbor of Home Depot cannot hurt, there's a daily newspaper to get our message out, plenty of population and good household incomes."

Some 114,000 people live within a five-mile radius of River Plaza. The market area is seeing notable income growth - average household income within a five mile radius currently is $64,588, an increase of 41.3% from 2000 and is projected to increase an additional 10.7%, to $71,489 by 2015. Levin is marketing two available units at River Plaza. The property also includes two proposed pad sites.

Levin currently maintains a growing portfolio of more than 90 diverse retail properties totaling 12.5 million square feet. Properties range from downtown stores to lifestyle centers, and from neighborhood and community centers to power centers in New Jersey, New York, Pennsylvania, Virginia, North Carolina and Florida. Levin offers a full range of services for its clients, including leasing, property management, accounting, construction management, marketing and risk management.

The firm has earned a number of achievements in the past 24 months including "Firm of the Year" by the Institute of Real Estate Management (IREM), New Jersey Chapter No. 1; one of America's five fastest-growing real estate managers by Chain Store Age; and Top Retail Company by the Mid Atlantic Real Estate Journal. In November 2010, the firm was named as one of the nation's Top 10 Redevelopers by Chain Store Age and in January, was ranked 30th among Top US Real Estate Companies by Commercial Property Executive magazine.

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