Real Estate Weekly
Image default
Featured Retail

Discount retailer to take over 47,000 s/f Sports Authority space

Levin Management Corporation (LMC) has announced a lease with national off-price retailer Burlington Stores at  Mill Creek at Harmon Meadow in Secaucus.

The commercial real estate services firm served as leasing agent for the property owner, an institutional client of New York Life Real Estate Investors (NYLREI). The 306,000-square-foot power center is part of the 200-acre mixed-use Harmon Meadow development. 

LMC Vice President of Leasing Sidney Singer arranged the transaction for NYLREI on behalf of its client. Clifford Simon of CNS Real Estate served as tenant broker. Burlington will take over the big box retail space formerly occupied by sporting goods chain Sports Authority.

“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.”

The shopping center sits four miles from Manhattan at the crossroads of the NJ Turnpike and Route 3.

Burlington has over 730 stores as of the end of the first quarter of Fiscal 2020, in 45 states and Puerto Rico.

The Mill Creek transaction represents its second lease signing with Burlington Stores. Last fall, the firm announced the retailer’s commitment at Somerville Circle Shopping Center in Raritan, N.J.

“We are pleased to represent another client in a lease transaction with Burlington,” added Singer. “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.”

(Visited 1 times, 1 visits today)

Related posts

Corcoran Reverie, affiliate of the Corcoran Group, welcomes Nashville firm to growing operation and becomes official real estate brokerage for NFL’s Tennessee Titans 

REW

Brookfield Properties, Park Tower Group announce grand opening and resident move-ins at mixed-income Waterfront Tower, The Bellslip

REW

Taconic Capital Advisors Closes $500M Distressed and Opportunistic Real Estate Fund

REW