JLL Capital Markets on Tuesday said it successfully arranged the $126 million sale of a premium, multi-state retail portfolio from SITE Centers Corp. to Haverford Retail Partners. The transaction involves three well-established neighborhood shopping centers located in high-barrier-to-entry markets across Pennsylvania, Ohio and New Jersey.
The portfolio is comprised of nearly 770,000 square feet of gross leasable area and boasts a remarkable aggregate occupancy rate of 99 percent.
The three properties are recognized for their robust tenant mix of national retailers and strategic locations:
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Southmont Plaza (Easton, PA): As the flagship asset at 250,939 square feet, it is anchored by Dick’s Sporting Goods and Best Buy, with Lowe’s serving as a shadow anchor. The center’s diverse merchandising mix attracts 3.5 million annual visitors and is the second most visited community shopping center in its trade area.
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Stow Community Shopping Center (Stow, OH): This center features 418,587 square feet across eight buildings, anchored by Giant Eagle, the dominant grocer in the Akron metropolitan area. Its strategic position three miles from Kent State University helps generate 5.2 million annual visitors.
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East Hanover Plaza (East Hanover, NJ): A 98,020 square foot neighborhood center in affluent Morris County, it maintains 100 percent occupancy. The property is anchored by three TJX Companies subsidiaries (HomeSense, HomeGoods, and Sierra) and benefits from shadow anchors Costco and Target along Route 10.
The JLL Capital Markets team, which led the transactions across all three properties, emphasized the current strength in the retail investment sector.
Jim Galbally, senior managing director at JLL, stated, “The retail investment market across the United States has demonstrated resilience with strong fundamentals supporting continued investor demand.” He noted that the combination of investment-grade credit tenants, exceptional demographics, and dominant market positions created significant buyer interest.
Jose Cruz, senior managing director, added that the market continues to see strength, particularly for “well-located properties with national tenant rosters and stable cash flows.”
Michael Nieder, senior director, highlighted the significant liquidity for high-performing open-air shopping centers in Northeast Ohio, noting this sale was the JLL team’s third transaction in excess of $50 million in 2025.
