Livingston Town Center in Livingston — Courtesy: Azarian Realty Co.
By Joshua Burd
Azarian Realty Co. is riding high after record growth in 2022, thanks to more than 60,000 square feet of leasing activity and the addition of 75,000 square feet to its management portfolio.
The firm, which is based in Midland Park, said its highlights for the year include a flurry of activity at Livingston Town Center, the open-air center in Livingston, where seven new tenants ranging from restaurants to fitness and service signed leases. It also noted that the top use among its completed deals in 2022 was food and dining, accounting for 33 percent of the activity while office and service businesses represented 23 and 20 percent of its leasing volume, respectively.
Meantime, Azarian said its assets under management now comprise more than 1.2 million square feet, following a record-setting year for the firm in that business segment. Of the five new property management assignments, its largest includes a four-building mixed-use portfolio in Hudson County.
“We are beyond excited to take on this management assignment and bring our best-in-class services and ideas to drive the value of these assets for ownership,” said Kevin Pelio, a senior director of leasing with Azarian.