Michael Cohen, Levin's vice president of leasing, negotiated the long-term lease. Chris Wilkinson of JBG Rosenfeld Retail served as tenant broker in the transaction.
The mattress and bedding category represents a new retail segment at Crossroads Place, according to Cohen. "This is a very successful, well-shopped center with a fantastic mix of retail, service and restaurant tenants," he said. "We are confident that Mattress Warehouse will be a great complement to Crossroads Place, and will solidify the center's reputation as the area's premier ‘one-stop shopping' destination."
Mattress Warehouse has become one of the nation's fastest-growing mattress retailers. With a strong focus on customer service, stores feature name-brand mattresses, box springs and bedroom furniture, as well as bed frames, day beds, rollaway beds, trundle beds, pillows, mattress protectors and headboards. The company's portfolio includes many of the most recognized sleep brands in the industry including Serta, Sealy, Beautyrest, Stearns & Foster and Tempur-Pedic.
Located at the heavily traveled intersection of Leesburg Pike and South Jefferson in Falls Church, Va., Crossroads Place serves a growing residential population of more than 528,000 people within a five-mile radius. The marketplace offers an average household income of more than $116,000, and the daily traffic count is about 60,000 vehicles per day.
Anchored by a Giant food store and Burlington Coat Factory, Crossroads Place features a mix of more than 20 regional and national tenants including TJ Maxx, Advance Auto, HomeGoods, Foot Locker, Office Depot, Cost Plus, Great Clips, CiCi's Pizza, Quiznos, Starbucks and The Olive Garden. Mattress Warehouse is expected to open at the center in March.
Levin Management is one of the nation's leading retail real estate services firms, with a strong focus in the northeastern United States and an owner's approach to the business. The firm's portfolio and internal resources have grown consistently over the years, responding to a variety of retail and economic climates. Today, Levin offers a full range of services for a diverse portfolio that encompasses approximately 95 properties and more than 13 million square feet. These services include leasing, property management, accounting, construction management and marketing. Levin specializes in repositioning, retenanting and renovating retail properties - areas that have become particularly vital for today's institutional and individual property owners.
With headquarters in North Plainfield, N.J., Levin serves properties ranging from neighborhood, community, lifestyle and power centers, to enclosed malls, street retail, downtown stores and mixed-use projects in New Jersey, New York, Pennsylvania, Massachusetts, Virginia and North Carolina. In business for six decades, the company taps into its associated, expansive tenant roster to conduct Retail Sentiment Surveys three times each year that provide insight on industry trends and sales performance.
Levin has earned a long list of coveted awards over the years. Since 2011 alone, the firm was ranked 30th among Top US Real Estate Companies and named three times among the nation's top property managers by Commercial Property Executive magazine, placed among the nation's top 10 redevelopers by Chain Store Age, credited as one of the state's top 10 real estate developers by New Jersey Business magazine, and ranked third on NJBIZ's Top Property Management Companies list and sixth on NJBIZ's Top Commercial Real Estate Developers list.