Springfield Avenue Marketplace at 204-234 Springfield Ave. in Newark — Courtesy: Levin Management Corp.
By Joshua Burd
The owner of a four-year-old, grocery-anchored shopping center in Newark has tapped Levin Management Corp. as its leasing and management agent.
In a news release, LMC said it has taken over the roles for Springfield Avenue Marketplace, a 112,000-square-foot complex at 204-234 Springfield Ave. The property, which is anchored by a busy 67,000-square-foot ShopRite, represents LMC’s first assignment with the client.
“Making a management transition is a significant decision for any property owner,” said Joseph Lowry, LMC’s senior vice president of acquisitions and business development. “In the current retail and economic climate, it also involves a great deal of trust. This appointment is particularly rewarding because it demonstrates confidence in our ability to deliver high-quality real estate services.”
Located in Newark’s University Heights neighborhood and close to institutions of higher education, Springfield Avenue Marketplace serves a dense consumer base of about 215,000 people within a two-mile radius, LMC said. Tenants include Snipes, Ashley Stewart, McDonalds, Taco Bell, Popeye’s Louisiana Kitchen, Sarku Japan, H&R Block, T-Mobile, Metro PCS, CityLife Clinic and uBreakiFix, among others.
LMC Leasing Representative E.J. Moawad is heading the Springfield Avenue Marketplace leasing team. Initial efforts will focus on identifying tenants for the center’s remaining vacancies, which include a 2,400-square-foot inline space and an available pad site.
“On the management side, our goal is to uphold and enhance the center’s efficiency and curb appeal,” Lowry said. “Newark is undergoing a significant revitalization and this center, along with other nearby development activity, has been a catalyst for the neighborhood’s ongoing transformation. Springfield Avenue Marketplace is a great addition to our regional portfolio, and we look forward to utilizing our expertise in all aspects of property operations to position this center for long-term success.”
