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Mt. Olive, N.J. — JLL Capital Markets has arranged the $27.9 million sale of a net-leased retail portfolio totaling 167,532 square feet in in the northwestern township of Mt. Olive. The deal comprises nine properties that make up the fully leased power center known as The Gardens, which includes a standalone 135,039-square-foot Lowe’s Home Improvement store and seven pad sites spanning a combined 32,493 square feet. Tenants at the property include Applebee’s Grill & Bar, LongHorn Steakhouse, Panera Bread, Wells Fargo, McDonald’s, Wendy’s, Panda Express and Chipotle Mexican Grill.
Kevin O’Hearn, Jose Cruz and JB Bruno of JLL represented the seller, Rivani, in the transaction.