Longpoint Acquires Two Shopping Centers in Arizona, New Jersey for Roughly $62 Million 

Phoenix and Bedminster, N.J. — Longpoint Partners has acquired two grocery-anchored shopping centers — El Monte Shopping Plaza in Phoenix and The Hills Village Center in Bedminster, New Jersey — for $62 million. Longpoint will manage the properties under its recently debuted Lena Centers brand. El Rancho Market IGA anchors El Monte Shopping Plaza, which totals 101,000 square feet. The property was 99 percent occupied at the time of sale. The Hills Village Center comprises 101,000 square feet. Kings Food Market anchors the center, which was 89 percent occupied at the time of sale. Mindy Korth, JK Jackson, El Warner and Caitlin Zirpolo of Colliers brokered the purchase of El Monte Shopping Plaza on behalf of Longpoint. Jose Cruz, Kevin O’Hearn and J.B. Bruno of JLL represented the undisclosed seller in The Hills Village Center transaction.