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JLL Closes Sale of Grocery-Anchored Somerset County Center
JLL Capital Markets closed the sale of The Hills Village Center, a 110,000-square-foot grocery-anchored retail property located at 550 Hills Dr. in Bedminster, NJ. Senior managing directors Jose Cruz and Kevin O’Hearn, senior director J.B. Bruno and senior associate Cole Doyon. represented the seller, Lena Centers, a Longpoint Partners subsidiary. Asana Partners acquired the asset. The price was not disclosed.
Fully leased, The Hills Village Center is anchored by Kings Food Markets and CVS and features a diverse tenant mix including Starbucks, PNC Bank, Peapack Gladstone Bank and multiple dining establishments and service-oriented retailers.
“Lena Centers has cultivated a thriving retail destination that serves as the commercial hub for The Hills community and surrounding areas,” said Cruz. “The successful disposition to Asana Partners reflects both the quality of the asset and the strength of the Somerset County retail market, where strong demographics and limited competition continue to drive investor interest.”
- ◦Sale/Acquisition
