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JLL Capital Markets closes sale of Hills Village Center in New Jersey
The 110,000-square-foot shopping center is fully leased and anchored by Kings Food Markets and CVS, with tenants including Starbucks and PNC Bank.
JLL Capital Markets has closed the sale of The Hills Village Center, a 110,000-square-foot grocery-anchored retail property at 550 Hills Dr. in Bedminster, New Jersey, according to ConnectCRE.
ConnectCRE reports that the seller, Lena Centers, a Longpoint Partners subsidiary, was represented by senior managing directors Jose Cruz and Kevin O’Hearn, along with senior director J.B. Bruno and senior associate Cole Doyon.
Asana Partners acquired the property, though the sale price was not disclosed. The Hills Village Center is fully leased and anchored by Kings Food Markets and CVS, and features a tenant mix that includes Starbucks, PNC Bank, Peapack Gladstone Bank, and multiple dining and service-oriented retailers.
ConnectCRE added that Lena Centers developed the site into a retail destination that serves the surrounding community, but did not provide additional deal terms beyond the undisclosed price.