LMC to Manage, Lease NJ Shopping Center

The property is leased by ACME Supermarkets. Levin Management Corp. advised LMC Properties in acquiring the asset.

ACME Shopping Center
ACME Shopping Center

Levin Properties purchased a single-tenant retail center in Manasquan, N.J. Levin Management Corp. facilitated the due diligence process and was appointed as exclusive leasing and managing agent for the property. LMC maintains several properties across the Northeast and Mid-Atlantic, including a community shopping center in Toms River, N.J., for which it also received exclusive leasing and management responsibilities.

The shopping center occupies two acres at 71 Taylor Ave., at the intersection with East Main Street. The 19,000-square-foot ACME supermarket is the only tenant. The adjoining street serves as a retail corridor, ensuring plenty of traffic. Within a five-mile radius, residential population is more than 130,000, with an average household income of $112,000.

The site enjoys a prominent location in the center of Manasquan, which made it an appealing long-term acquisition opportunity for Levin Properties. As leasing and managing agent, we look forward to working with ACME and ensuring an attractive, well-maintained shopping experience for area residents,” said Robert Carson, executive vice president at LMC, in a prepared statement.

Image courtesy of Levin Management Corporation