Basking Ridge, N.J. — JLL Capital Markets has arranged the sale of Highlands Village Shopping Center, a 60,614-square-foot shopping center located within The Hills at Basking Ridge master-planned community in the Northern New Jersey city of Basking Ridge. Built in 2000 on roughly 11 acres, the center spans five buildings and was fully leased at the time of sale to 18 tenants. Anchored by Walgreens and a United States Postal Service, additional tenants include essential services, health and wellness, education, food-and-beverage and recreation-based businesses.
Kevin O’Hearn, Jose Cruz, J.B. Bruno and Cole Doyon of JLL represented the seller, Kushner Real Estate Group, and procured the buyer, Adoni Property Group, in the transaction. Max Custer, Gerard Quinn, Ryan Carroll and Kevin Badger, also of JLL, arranged $12.2 million in acquisition financing through a life insurance company on behalf of the buyer.