Located on St. Georges Avenue at Peach Street, Delco Plaza sits directly across the street from a Home Depot and adjacent to a Big K-Mart. Other tenants at the shopping center include Pathmark, Boston Market, Photo Time, Crystal Vision, Golden Touch Jewelers, 99 Cent Max, Hair Designs, BuyRite Liquors, Beauty Castle, Radio Shack and Bank of America.
"Delco Plaza's location in an evolving market has attracted a desirable mix of national and local retailers that continue to strengthen the property's position as a local market leader," Goldsmith tells GlobeSt.com.
"From a standpoint of demographics, this center simply is a great place to do business," he adds. "The population within five miles is estimated to be 332,746 and is projected to reach 335,567 by 2013. Additionally, the current average household income of $91,109 is projected to reach $103,005 by that time as well."
Levin is also in the midst of overseeing a major facelift at Somerville Circle Shopping Center in Raritan. Meanwhile, a recent pad site building approval and an upcoming small tenant vacancy will create the first leasing opportunities in several years at the 157,000-square-foot retail center.
A new façade combining brick and EFIS, a lightweight synthetic wall cladding, will create heightened definition for tenant spaces throughout the center. An upgraded highway pylon sign will feature the same architectural finishes. Levin will complete the renovation in three phases, to minimize disruption for retailers and shoppers at this property.
"Our goal with the renovation is to ensure that the center remains inviting to shoppers, but with a more modern appearance," Levin's president and COO Matt Harding tells GlobeSt.com. "Somerville Circle Shopping Center occupies a highly visible location and houses a tenant mix that has evolved toward a more upscale blend in recent years. This upgrade to the center's appearance will mirror the quality of its retailers."
Located directly on the Somerville Circle, with a daily traffic count of 50,000-plus vehicles, the property is 100% occupied. Tenants include Five Below, Panera Bread, Staples, Petco, Toys "R" Us, P.C. Richard & Son, Burger King and PNC Bank.
A 3,000-square-foot store is coming available later this year at Somerville Circle, as its owner retires. Additionally, Levin recently secured approvals for a 6,000-square-foot, one-story building on a pad site that occupies the Route 28 side of the property.
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