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NORTH PLAINFIELD, N.J., July 27, 2009 – New leases, extensions, renewals and exercised options totaling approximately 262,000 square feet and involving 48 transactions at 24 properties in four states marked the first seven months of 2009 for retail real estate services firm Levin Management Corporation of North Plainfield. According to Levin’s President and Chief Operating Officer Matthew K. Harding, this strong performance in the face of today’s economic challenges testifies to the continued viability of the retail industry.

“Although many news reports have focused on troubled retailers, the industry overall is not dormant – good things are happening,” he said. “Levin-leased and managed properties are doing quite well through this cycle, all things considered. Of course, the reality remains that the economy is having a significant impact on our industry. But we are encouraged by what we have seen through the first half of this year compared to a year ago.”

Levin leasing professionals Dale Mulartrick, Ethan Goldsmith, Barry Greenberg, Raymond Harari and Jake Frantzman spearheaded negotiations for the recent activity as members of the firm’s in-house leasing team. Peter Mitchell, who handles Levin’s leasing activity at Liberty Center in Erie, Pa., was involved in three transactions at that property. Portfolio-wide, Levin maintains responsibility for 80 properties totaling more than 12 million square feet in New Jersey, New York, Pennsylvania, Virginia and North Carolina. These assets range from neighborhood, community, lifestyle and power centers, to enclosed malls, downtown stores and mixed-use projects.

In New Jersey, Levin closed leases at 17 properties, including:
· Bayshore Plaza in Barnegat, where Hudson City Savings Bank exercised its lease option for 2,700 square feet.
· Quick Chek Plaza in Bayonne, where Rita’s leased 994 square feet.
· Somerset Shopping Center in Bridgewater, where Pier 1 Imports renewed its 9,375-square-foot lease, Eastern Mountain Sports renewed its 8,000-square-foot lease, Payless Shoe Source extended its 2,990-square-foot lease and Hair Studio renewed its 2,160-square-foot lease.
· Chatham Plaza in Chatham, where World Champion Tae Kwon Do leased 2,120 square feet and Green Nails extended its lease and expanded its store to 1,520 square feet.
· Clifton Plaza in Clifton, where Work N Gear extended its 3,247-square-foot lease and an Allstate Insurance agency leased 1,600 square feet.
· 449 Lakeview Ave. in Clifton, where Dollar General leased 11,556 square feet.
· Capitol Plaza in Ewing, where GNC renewed its 1,320-square-foot lease and Cricket Communications leased 2,197 square feet.
· Rutgers Plaza in Franklin Twp., where Venus Jewelers renewed its 2,439-square-foot lease and Hunan Delight renewed its 3,796-square-foot lease.
· Hamilton Plaza in Hamilton Twp., where A.C. Moore renewed its 20,400-square-foot lease, Fashion Bug renewed its 7,590-square-foot lease, Diana’s Hallmark extended its 4,373-square-foot lease and Blockbuster Video extended its 5,200-square-foot lease.
· Twin City Shopping Center in Jersey City, where Fashion Bug extended its 8,350-square-foot lease and Dunkin Donuts renewed its 1,700-square-foot lease.
· Fair Ground Plaza in Mount Holly, where Aaron’s renewed its 9,261-square-foot lease, Sovereign Bank renewed its 2,100-square-foot lease and Hunan Wok renewed its 1,680-square-foot lease.
· Madison Avenue Shopping Center in Paterson, where Star Beauty renewed its 1,500-square-foot lease.
· Oak Park Commons in South Plainfield, where Fitness 19 leased 6,500 square feet and La Rosa II Trattoria & Pizza leased 1,960 square feet.
· Echo Plaza in Springfield, where No Body Denied, a fitness facility, leased 21,500 square feet.
· Blue Star Shopping Center in Watchung, where Petco extended its lease on 11,447 square feet, Dollar Tree exercised its lease option for 10,268 square feet, Becker Brothers renewed its lease for 7,234 square feet and Arby’s exercised its lease option for 4,000 square feet.
· St. Georges Crossing in Woodbridge, where GameStop renewed its 1,500-square-foot lease.
· Delco Plaza in Woodbridge, where Subway leased 800 square feet and Bank of America exercised its lease option for an on-site kiosk.

In Pennsylvania, Levin orchestrated transactions at three properties, including:
· Centre Plaza in Bensalem, where New Medical Management renewed its 3,400-square-foot lease and Advance Realty Platinum leased 2,300 square feet.
· Liberty Center in Erie, where Harbor Freight Tools renewed its 11,319-square-foot lease, World of Sleep renewed its 6,723-square-foot lease and Payless Shoe Source extended its 3,544 square feet.
· Mid-Town Plaza in Middletown, where Blockbuster renewed its 6,300-square-foot lease.

In New York, Levin saw activity at three shopping centers, including:
· Post Road Plaza in Pelham Manor, where Marathon Gold City extended its 1,968-square-foot lease.
· Mayfair Shopping Center in Commack, where Mr. Cheapo extended its lease on 1,360 square feet.
· River Plaza in Union, where Window World leased 2,382 square feet.

In North Carolina, Levin orchestrated:
· Four transactions at Hickory Plaza in Hickory, including a 32,071-square-foot expansion for Big Lots, a 2,500-square-foot lease extension for Radio Shack, a 2,000-square-foot renewal for All My Friends Pet Shop and a 2,000-square-foot renewal for H&R Block.

“Renewals and extensions comprise a significant percentage of the activity we are seeing,” Harding noted. “In some cases, this illustrates the trend of tenants taking advantage of the market to lock-in at favorable rates, but it also reflects a growing confidence in retail that has been missing for many months. And we are beginning to see an increase in new leases as well. This is good news in terms of industry growth, and we likely will see more of this type of movement as the upside of the cycle begins.”