{"id":1004740304,"date":"2024-12-11T07:57:44","date_gmt":"2024-12-11T15:57:44","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004740304"},"modified":"2024-12-11T07:57:46","modified_gmt":"2024-12-11T15:57:46","slug":"longpoint-buys-new-jersey-retail-center-for-50m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-new-jersey-retail-center-for-50m\/","title":{"rendered":"Longpoint Buys New Jersey Retail Center\u00a0for $50M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004740306\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/the-hills-village-center-in-bedminster-n-j-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg\" data-orig-size=\"1294,971\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The Hills Village Center in Bedminster, N.J.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg\" alt=\"Aerial shot of The Hills Village Center, a 110,453-square-foot retail center in Bedminster, N.J. \" class=\"wp-image-1004740306\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg 1294w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">The Hills Village Center occupies a 13-acre site within The Hills townhouse community. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Longpoint Partners has acquired The Hills Village Center, a 110,453-square-foot retail center in Bedminster, N.J. The shopping center will be managed under the firm\u2019s Lena Centers brand.<\/p>\n\n\n\n<p>Longpoint paid nearly $50 million for the asset, according to <em>Commercial Real Estate Direct<\/em>. JLL represented the seller and procured the buyer.<\/p>\n\n\n\n<p>Completed in 1988 on a 13-acre site, The Hills Village Center was 89.3 percent leased at the time of sale. The property is anchored by Kings Food Market and its tenant roster includes CVS, Cold Stone Creamery, PNC Bank, Starbucks, Great Clips and Orange Theory. <\/p>\n\n\n\n<p>The retail center is at 550 Hills Drive within The Hills, a townhouse community of 5,548 households. Major transportation routes in the area include interstates 287 and 78, as well as highways 202 and 206. The retail center has more than 380,000 annual visits.<\/p>\n\n\n\n<p>JLL Senior Managing Directors Jose Cruz and Kevin O\u2019Hearn, together with Director J.B. Bruno, led the Capital Market Investment and Sales Advisory team representing the seller.<\/p>\n\n\n\n<p>As for the buyer, <a href=\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-phoenix-shopping-center\/\">Longpoint purchased another retail asset<\/a>, in Phoenix, earlier this month. The 101,269-square-foot shopping center also operates under the Lena Centers brand.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL represented the seller and procured the buyer.  <\/p>\n","protected":false},"author":3619,"featured_media":1004740306,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1600,21742,10,21749],"tags":[32796,51923],"class_list":["post-1004740304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-new-york","category-latest","category-northeast","category-retail","tag-jll","tag-longpoint"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Longpoint Buys New Jersey Retail Center\u00a0for $50M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Longpoint Partners has acquired The Hills Village Center, a 110,453-square-foot retail center in Bedminster, N.J.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-new-jersey-retail-center-for-50m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Longpoint Buys New Jersey Retail Center\u00a0for $50M\" \/>\n<meta property=\"og:description\" content=\"Longpoint Partners has acquired The Hills Village Center, a 110,453-square-foot retail center in Bedminster, N.J.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-new-jersey-retail-center-for-50m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-11T15:57:44+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-11T15:57:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/12\/The-Hills-Village-Center-in-Bedminster-N.J-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1294\" \/>\n\t<meta property=\"og:image:height\" content=\"971\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-new-jersey-retail-center-for-50m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-new-jersey-retail-center-for-50m\/\",\"name\":\"Longpoint Buys New Jersey Retail Center\u00a0for $50M - 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