Levin Management Named One Of Country's Top Redevelopers
Levin is among 10 Retail Real Estate Companies cited by Chain Store Age, and the only true Property Manager on the List.
- New York, NY (1888PressRelease) December 07, 2010 - With ground-up development scarce and redevelopment and repositioning dominating the retail real estate landscape, Chain Store Age's November issue turned the spotlight on America's top redevelopers, citing 10 companies in the magazine's sixth annual ranking. Of the 10 companies profiled by the magazine, Levin Management Corporation is the sole true retail real estate services firm on the list.
"It has been our longstanding policy to continually work to improve the properties in our portfolio, to make it more competitive in all economic cycles," said Matthew K. Harding, president and chief operating officer of Levin Management. "In the current economy, we are able to take advantage of lower construction prices to help maintain our competitive edge.
"The fact that we are the sole true retail real estate services firms on a list of some of the country's top retail developers is clear evidence of our full-service approach to property management," Harding said.
Noting that the list of 10 companies "share an active and admirable commitment to redevelopment," Chain Store Age profiled Levin Management's $15-million-plus overhaul of Post Road Plaza in Pelham Manor, N.Y., one of three redevelopments completed by the firm in the past year. The 50-year-old, 268,000-square-foot retail property was repositioned, re-tenanted and renovated, including the addition of a 75,000-square-foot Fairway Market and expansion of long-time anchor Modell's Sporting Goods into a 22,000-square-foot, two-story space.
"Post Road Plaza has a long history of being a dominant community shopping destination in its marketplace," said Harding. "It is a highly competitive marketplace, and as is the case with all of the properties we manage, our goal is to continue to be a market leader."
Other current and recent redevelopment and repositioning efforts launched by Levin Management include a $10-million renovation and expansion of Hamilton Plaza in Hamilton Twp., N.J. in conjunction with the expansion of long-time anchor ShopRite; a value-oriented re-tenanting of Hickory Plaza in Hickory, N.C.; and a renovation and expansion of Clifton Plaza in Clifton, N.J., among others.
"Older retail properties in the right location can become much more competitive in their markets if they are updated," Harding said. "Now is a highly opportune time to do that."
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.
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