NORTH PLAINFIELD, NJ–Retail real estate services firm Levin Management has inked more than three dozen new leases, renewals and expansions totaling 277,000 square feet during the past four months, says Matthew K. Harding, president of the company. Levin's year-to-date activity total now exceeds 600,000 square feet, marking continued momentum for the Northeast retail market, where the majority of its 13 million-square-foot, 95-property leasing and management portfolio is located.

Levin's largest new lease in the period from June through September involved a 30,808-square-foot commitment by Stein Mart, which will open its first Long Island location at Mayfair Shopping Center in Commack, NY. In New Jersey, T.J.Maxx leased 23,000 square feet at St. Georges Crossing in Woodbridge, while Staples signed on for 14,249 square feet at North Village Shopping Center in North Brunswick. At Mid-Town Plaza in Middletown, PA, a 7,400-square-foot lease to AutoZone represented Levin's largest recent Keystone State transaction.

“Leasing has picked up markedly among tenants looking to establish or expand their footprints in the Northeast,” says Harding. “Grocers, affordable fitness chains, off-price retailers and fast-casual restaurants are among the most active categories, with strong demand from national, local and franchise companies.”

Harding says vacancies are declining and rents are trending up at quality properties, sparking stepped-up new development and expansion/renovation work at well-located shopping centers. In fact, both the T.J.Maxx and AutoZone leases will be accommodated by property expansions at St. Georges Crossing and Mid-Town Plaza, respectively.

“The success of recently completed construction projects are bright spots in the Northeast retail real estate market,” he says. “And while we will continue to see quality inventory added to meet growing demand, the maturity of the market, combined with lengthy approval and building processes, will keep the supply/demand ratio in check. Looking ahead, we expect the market's stability to increase – gradually, not rapidly – over the next couple of years.”

Levin 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. The company offers a full range of services for a diverse portfolio, including leasing, property management, accounting, construction management and marketing. Levin specializes in repositioning, retenanting and renovating retail properties – areas that have become particularly vital for today's institutional and individual property owners.