2024 Year in Review: E.J. Moawad, Levin Management Corporation

What noteworthy transactions or deals from this year best exemplified key market trends or shifts? 

Leasing activity involving apparel-sector tenants had been flat for several years, however we are seeing a reemergence in this category. At Mayfair Shopping Center in Commack, the recent opening of J.Crew Factory is a great example. The property also has locations for apparel retailers Loft and Jos. A Bank. Last year, we welcomed PGA TOUR Superstore (which has a large apparel offering) to the property as well. Apparel is a traditional retail staple and an important part of offering a diversified tenant mix – one that blends national brands, mom-and-pop businesses and service providers to meet community needs.

What was your greatest professional accomplishment or most notable project, deal, or transaction in 2024?

Over the past 18 months, Mayfair Shopping Center has celebrated openings by J.Crew Factory, PGA TOUR Superstore, Sephora, JBBQ Wok & Dumpling, Champions Martial Arts and Mimi’s Coffee & Bubble Tea. These latest additions join top-ranked grocer Lidl, Planet Fitness and an enviable lineup of retailers, restaurants and service providers. Currently, we have leases in the works for the center’s last remaining vacancies. Mayfair Shopping Center drew 2.1 million visits in 2023, according to Placer.ai data. This marks an all-time record for the property and a 19% increase over the prior year, reinforcing the success of our strategic re-tenanting.