{"id":1004194673,"date":"2017-10-23T06:32:08","date_gmt":"2017-10-23T14:32:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004194673"},"modified":"2021-05-15T02:19:12","modified_gmt":"2021-05-15T10:19:12","slug":"levin-to-lease-manage-nj-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/levin-to-lease-manage-nj-retail-center\/","title":{"rendered":"Levin to Lease, Manage NJ Retail Center"},"content":{"rendered":"<p>By Corina Stef<\/p>\n<div id=\"attachment_1004194674\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png\" target=\"_blank\" rel=\"noopener noreferrer\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004194674\" data-attachment-id=\"1004194674\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/levin-to-lease-manage-nj-retail-center\/capture-129\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png\" data-orig-size=\"1319,989\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Commons at Hooper, Toms River, N.J.\" data-image-description=\"&lt;p&gt;Commons at Hooper, Toms River, N.J.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Commons at Hooper, Toms River, N.J.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png?w=1024\" loading=\"lazy\" class=\"wp-image-1004194674 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png\" alt=\"Commons at Hooper, Toms River, N.J.\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png 1319w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Capture2.png?resize=1024,768 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004194674\" class=\"wp-caption-text\">Commons at Hooper, Toms River, N.J.<\/p><\/div>\n<p>ALTO Real Estate Funds and Unison Realty Partners have selected Levin Management Corp. (LMC) to lease and manage its recently purchased Commons at Hooper. LMC\u2019s Jordan Korris will handle the leasing operations for the 120,350-square-foot community shopping center in Toms River, N.J.<\/p>\n<p>The property is located on\u00a0more than 14.5 acres at 1350 Hooper Ave. It is anchored by Michaels and DSW Designer Shoe Warehouse, but houses 21 retail, restaurant and service tenants, including Dollar Tree, Mattress Firm, Hand &amp; Stone Massage and Facial Spa, Dress Barn and Jersey Mike\u2019s. Additionally, the transit-oriented retail center is situated in an area with a daily traffic count of more than 41,000 vehicles. It is also located one-half mile north of Ocean County Mall, one hour from New York City and one hour from Philadelphia.<\/p>\n<h2>Upcoming capital improvements<\/h2>\n<p>The new owners purchased the property in September through a bankruptcy auction for $21.1 million. Their value-add strategy includes investment in capital improvements,\u00a0facade renovation and the leasing of the vacant units.<\/p>\n<p>\u201c<em>Our plan involves updating this property and generally making it a more attractive shopping environment<\/em>,\u201d LMC Executive Vice President Robert Carson said in a prepared statement. \u201c<em>Commons at Hooper already is home to strong tenants, and our leasing efforts will build upon that by rounding out the mix with additional diversified, high-quality retailers and services.<\/em>\u201d<\/p>\n<p>In a recent deal,\u00a0ALTO Real Estate Funds disposed\u00a0of a\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/san-diego-area-grocery-anchored-center-trades-for-42m\/\">shopping center in Chula Vista, Calif.<\/a>, the Smart &amp; Final and Aldi-anchored Gateway Marketplace.<\/p>\n<p><em>Image courtesy of\u00a0Levin Management Corp.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commons at Hooper is a 120,350-square-foot community shopping center in Toms River, N.J., anchored by Michaels and DSW Designer Shoe Warehouse.<\/p>\n","protected":false},"author":241,"featured_media":1004194674,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1600,21742,10,21749],"tags":[36728,37394,34237],"class_list":["post-1004194673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-new-york","category-latest","category-northeast","category-retail","tag-alto-real-estate-funds","tag-levin-management-corporation","tag-unison-realty-partners"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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