Penn., Ohio and N.J. — JLL Capital Markets has arranged the $126 million sale of three shopping centers totaling nearly 770,000 square feet across Pennsylvania, Ohio and New Jersey. JLL represented the seller, SITE Centers Corp., in the transaction. The buyer was Haverford Retail Partners.
The first property, Southmont Plaza in Easton, Pennsylvania, encompasses 250,939 square feet and is anchored by Dick’s Sporting Goods and Lowe’s Home Improvement. Meanwhile, Stow Community Shopping Center in Stow, Ohio, comprises 418,587 square feet across eight buildings and is anchored by Giant Eagle. The final property, named East Hanover Plaza in East Hanover, New Jersey, features 98,020 square feet of retail space and is anchored by Homesense, HomeGoods and Sierra.
The shopping center portfolio spans roughly 47 acres and was 99 percent occupied at the time of sale.
Jim Galbally, Patrick Higgins and JP Colussi of JLL arranged the sale of Southmont Plaza, while Michael Nieder, Brian Page and John Detlaff brokered the sale of Stow Community Shopping Center. Additionally, Jose Cruz, J.B. Bruno and Michael Kavaler negotiated the sale of East Hanover Plaza.