Premier New Jersey retail center trades hands for $54.3M

MORRISTOWN, N.J., April 29, 2026 –  JLL Capital Markets announced today that it has arranged the $54.3 million sale of The Village at Bridgewater Commons, a premier open-air retail center located in Bridgewater Township, Somerset County, New Jersey.

JLL represented the seller, Pacific Retail Capital Partners. The buyer was Urban Edge Properties.

The Village at Bridgewater Commons is strategically located at 600 Commons Wy., directly adjacent to Bridgewater Commons, a 1.2 million square foot super-regional mall that ranks within the top 3% of all shopping centers in the United States by visits. The property benefits from its prime location bordering Route 22 and proximity to Route 202/206 and Interstate 287, which combined boast traffic counts of more than 247,000 vehicles per day.

Bridgewater Township is one of the wealthiest municipalities in New Jersey and serves as both a suburban bedroom community for New York City commuters and the regional commercial hub for Somerset County. The center serves an affluent trade area with a population of 130,066 within five miles and an average household income of $182,841.

The open-air retail center was originally built in 2006 and comprises 92,461 square feet across 12.5 acres. The property is anchored by Summit Health, a state-of-the-art medical facility that opened in a newly redeveloped building in 2024. Notable fast-casual food and beverage tenants include Starbucks, Shake Shack, Cava, Chipotle and Big Chicken. The center boasts 98% occupancy with a weighted average lease term of 7.4 years and has experienced 14% growth in annual visits over the past 12 months as it has evolved into one of the state's most desirable fast-casual food and beverage destinations.

JLL’s Investment and Sale Advisory team was led by Senior Managing Director Kevin O’Hearn and Senior Director JB Bruno.

"The sale of The Village at Bridgewater Commons demonstrates the strong investor appetite for well-positioned retail assets in high-barrier-to-entry locations with exceptional demographics," O’Hearn said.

"The property's dominant tenant mix, particularly its concentration of best-in-class food and beverage concepts, combined with the stability of the Summit Health medical anchor, make it an ideal acquisition for Urban Edge Properties," added Bruno.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of December 31, 2025. For over 200 years, clients have trusted JLL, a Fortune 500® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

Pacific Retail Capital Partners is a Southern California-based real estate investment firm specializing in acquiring, developing and managing large-format retail-led properties. Founded in 2007, the company manages more than $3 billion in assets and 24 million square feet, transforming traditional retail into community-centric, mixed-use destinations.

Urban Edge Properties is a real estate investment trust specializing in shopping centers located primarily in the supply-constrained corridor between Washington, D.C., and Boston. The company owns and manages more than 74 properties totaling 17.3 million square feet of gross leasable area, focusing on creating value through leasing, redevelopment and first-class property management while making a positive impact on the communities it serves.