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Levin announces 27 lease transactions
North Plainfield, N.J. — Levin Management inked 27 new leases and lease renewals totaling more than 190,000 sq. ft. over the past several months.
Northern New Jersey (Passaic, Essex, Bergen and Somerset counties)
• At West Orange Plaza in West Orange, Essex County, Levin signed a 14,115-sq.-ft. lease with Retro Fitness. In neighboring Passaic County, at Clifton Plaza in Clifton, Levin signed another gym for 15,000 sq. ft. and is overseeing its ground-up construction there.
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Declining mall traffic affects Bebe in Q4
Bebe Stores had a difficult second quarter. The company reported a net loss of $5.5 million, which it said was partly fueled by declining mall traffic and an aggressive promotional environment across the industry.
Net sales declined 4.1% to $130 million, from $135.5 million reported for the second quarter a year ago. Same-store sales decreased 1.9%.
CEO Steve Birkhold acknowledged challenges, but cited sequential improvement in same-store sales and holiday sales, as well.