A new Target at Flemington Marketplace in Flemington was among several new stores to open in 2025 across Levin Management Corp.’s leasing and management portfolio. — Courtesy: LMC
By Joshua Burd
The strength of open-air shopping centers with robust anchors was on display in 2025, fueling an uptick in deal volume across Levin Management Corp.’s sprawling portfolio.
The real estate services firm, which is based in North Plainfield, said it closed 119 lease transactions last year totaling nearly 1.1 million square feet. That represents a roughly 10 percent increase over each of the prior two years, LMC said, adding that six shopping centers within its leasing and management portfolio reached full occupancy during 2025.
The year-end results underscore broad retailer demand across its footprint and continued momentum at well-located open-air centers with high-performing anchors, the firm said. Large-format value retailers and entertainment concepts drove leasing activity, while the food, beauty, wellness and personal services categories provided steady velocity in smaller spaces.
“Retailer demand is concentrating around strong open-air centers with high-performing anchors in the right trade areas, and we’re seeing those properties outperform,” said Matthew K. Harding, Levin’s CEO. “In many cases, performance is strong enough that we’re right-sizing centers — reshaping space and tenant mix to match what today’s retailers want and what our communities support, including adding new opportunities through outparcel development where it fits.”
To that end, the firm said leasing momentum was especially evident at two redevelopment-driven properties where anchor initiatives are accelerating tenant demand and strengthening merchandising mix. At Blue Star Shopping Center in Watchung, the debut of a newly built and expanded ShopRite helped drive fresh leasing momentum in the form of eight new deals totaling more than 82,000 square feet, including a commitment by Burlington and a relocation by Marshalls, plus deals with Five Below, Back Nine Golf, Honeygrow, Taco Bell and Modern Nails Lounge.
At West Orange Plaza, a lease by Target and continued outparcel development is driving demand and expanding the tenant lineup with additions from the wellness and restaurant sectors, according to a news release. Three new tenants — VIO Med Spa, Namkeen Hot Chicken Joint and Quickway Japanese Hibachi — are among the latest to commit to the West Orange site.
LMC also inked deals with Burlington at St. Georges Crossing in Woodbridge and Post Road Plaza in Pelham Manor, New York. Value and necessity-based chains and health and wellness also remained strong categories, fueling deals with the likes of Planet Fitness at Aldrich Plaza in Howell, PB Club at Twin City Shopping Center in Jersey City and Savers at High Pointe Commons in Harrisburg, Pennsylvania.
The firm, meantime, said the lease-up of six centers in its portfolio was a major milestone in 2025. They include Flemington Marketplace, St. Georges Crossing, North Village Shopping Center and Hamilton Plaza in New Jersey and Post Road Plaza in New York and Crossroads Place in Virginia.
LMC also remained active in the industrial sector in 2025, inking deals such as a new 135,990-square-foot lease with Morerich Tech LLC at Rutgers Industrial Center at 120 Circle Drive North in Piscataway. The firm is now marketing a 54,000-square-foot expansion at the eight-building, 700,000-square-foot complex, with completion scheduled for the first quarter of 2026.
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