Kearny Square on Passaic Avenue in Kearny — Courtesy: Levin Management Corp.
By Joshua Burd
Levin Management Corp. has taken over management for a Kearny shopping center, following the recent sale of the nearly 140,000-square-foot complex.
The real estate services firm this week announced the new assignment at Kearny Square, a property along Passaic Avenue that is anchored by a BJ’s Wholesale Club. The news comes less than a month after brokers announced that the original developer, which completed the property in 2016, had sold it to a fund managed by Bentall Kennedy.
“Situated in a rapidly growing Hudson County marketplace, Kearny Square is a fully leased shopping center with a fantastic tenant mix,” said Robert Caron, LMC’s executive vice president. “This is a recently introduced, highly attractive property. We look forward to utilizing our expertise in all aspects of property operations to position Kearny Square for long-term success under its new ownership.”
LMC touted the center’s location just a mile north of Interstate 280 and less than five minutes from downtown Newark. In addition to BJ’s, the tenant roster includes a mix of national fast-casual eateries and service providers, including PetSmart, Chipotle, Jersey Mike’s Subs, Five Below and Carter’s.
Fund acquires Hudson County retail center anchored by wholesaler, grocery store
