JLL arranges sale of grocery-anchored retail center in northern New Jersey

• JLL Capital Markets has completed the sale of The Hills Village Center, a 110,000-square-foot grocery-anchored retail property in Bedminster, New Jersey

• JLL represented seller Lena Centers, a Longpoint Partners subsidiary, in the transaction with buyer Asana Partners

• The thriving shopping center is anchored by Kings Food Markets and CVS and is strategically positioned at one of Somerset County's busiest retail intersections

MORRISTOWN, N.J., Sept. 30, 2026 – JLL Capital Markets announced today the sale of The Hills Village Center, a 110,000-square-foot grocery-anchored retail property located at 550 Hills Drive in Bedminster, New Jersey.

JLL represented the seller, Lena Centers, a Longpoint Partners subsidiary, in the transaction. Asana Partners acquired the asset.

The Hills Village Center is a vibrant shopping destination strategically positioned at the intersection of Hills Drive and Route 206, one of the busiest major retail nodes in Somerset County. The property benefits from exceptional visibility and access, with more than 19,000 vehicles per day traveling on Hills Drive and more than 75,000 vehicles per day on Route 202. Interstate 287 is accessible within minutes of the site, further enhancing the center's regional connectivity.

The fully leased shopping center is anchored by Kings Food Markets and CVS and features a diverse tenant mix including Starbucks, PNC Bank, Peapack Gladstone Bank and multiple dining establishments and service-oriented retailers.

The Hills Village Center serves one of New Jersey's most desirable demographic markets. Within a five-mile radius, the property draws from a population of nearly 60,000 residents with an average household income exceeding $230,000 and a median home value of more than $711,000. More than 67% of residents hold a bachelor's degree or higher. The trade area also benefits from more than 83,000 daytime employees within five miles, providing a strong weekday customer base for the center's retailers and restaurants.

The JLL Capital Markets team was led by Senior Managing Directors Jose Cruz and Kevin O’Hearn, Senior Director J.B. Bruno and Senior Associate Cole Doyon.

"Lena Centers has cultivated a thriving retail destination that serves as the commercial hub for The Hills community and surrounding areas," Cruz said. "The successful disposition to Asana Partners reflects both the quality of the asset and the strength of the Somerset County retail market, where strong demographics and limited competition continue to drive investor interest."

JLL’s Capital Markets group 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. The group has more than 3,000 Capital Markets 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 112,000 as of June 30, 2026. 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.

Lena Centers, a Longpoint Partners subsidiary, creates grocery-anchored neighborhood centers that reflect the cultural identity of the communities they serve, delivering high-performing retail environments rooted in everyday life. Headquartered in Boston, Lena has boots on the ground in 10 regional offices across the U.S.

Asana Partners is a retail real estate investment firm creating value in vibrant neighborhoods by leveraging vertically integrated capabilities and retail expertise. With more than $9 billion of neighborhood assets under management, the firm is active in growth markets throughout the United States and is driven to make a positive impact within communities. Asana Partners champions a strong collaborative culture with offices in Charlotte, Atlanta, Boston, Columbia, Denver, Los Angeles, and New York. For more information, visit www.asanapartners.com or follow @asanapartners.