(Editor’s note: This story was updated on Aug. 10 with additional information and quotes from Levin Management Corp., the owner’s representative in the Burlington Stores transaction in Secaucus)
By Joshua Burd
Burlington Stores has leased 47,000 square feet at a Secaucus shopping center, in the largest of several newly announced transactions by Levin Management Corp.
In a news release last week, LMC said Burlington will join the tenant roster at Mill Creek at Harmon Meadow. The off-price chain is backfilling a former Sports Authority space at 31 Mill Creek Drive.
LMC announced the deal while touting 165,000 square feet of new commitments and renewals over the past four months throughout its retail-focused portfolio, despite the challenges posed by the pandemic.
“Although we experienced a pause in business in conjunction with the initial store closures in March, our leasing team has remained focused on keeping activity alive and successfully bringing these deals to fruition,” said Sidney Singer, the firm’s vice president of leasing. “This has been the most trying time any of us have seen, yet experienced real estate practitioners and retailers have moved forward, working through these uncertain circumstances.”
LMC’s recent transactions also include commitments from America’s Best Contacts & Eyeglasses in Raritan, Popeye’s Louisiana Kitchen in Woodbridge, Blue Foundry Bank in Chatham and Charlie’s Pizza in Philadelphia.
Singer said essential retail categories, such as grocers, home improvement stores, pharmacies and fast-casual restaurants, by nature have been continually active, noting that the current retail climate also is proving to be one of opportunity.
“We are seeing movement involving retailers looking for locations where they can best serve customers in a world that has changed,” he said. “For example, pad sites that can accommodate drive through service are particularly attractive for restaurant tenants.”
LMC Vice President of Leasing Sidney Singer arranged the Secaucus transaction on behalf of the landlord, New York Life Real Estate Investors, while Clifford Simon of CNS Real Estate served as tenant broker.
“Backfilling an anchor vacancy — particularly in today’s challenging climate — is big news,” Singer said. “And securing such a strong national brand bodes very well for the future of this property. Burlington is a quality addition to Mill Creek’s tenant lineup, which also includes Kohl’s, T.J. Maxx, and Bob’s Discount Furniture.”
He noted that the shopping center sits four miles from Manhattan at the crossroads of the New Jersey Turnpike and Route 3. The Mill Creek deal follows Burlington Stores’ commitment at the Somerville Circle Shopping Center in Raritan, a property also managed by LMC.
“We are pleased to represent another client in a lease transaction with Burlington,” Singer added. “Even before the pandemic, off-price brands were positioned among the strongest sub-sectors in retailing. Now, many consumers have become even more cost-conscious. This niche is well positioned to maintain its ‘edge’ — with Burlington’s activity illustrating this new reality.”
