Updated Oct 20, 2026
Sonny Adoni Of Adoni Property Group Acquires Highlands Village Shopping Center For $12.2M
546 Allen Road
$12,200,000
$201/SF
Building Size
60,614 SF
Asset Type
Retail
Closing
Oct 19, 2026
About this deal
AI
The asset involved in the transaction is Highlands Village Shopping Center, located at 546 Allen Road in Basking Ridge, NJ. The retail space encompasses a total of 60,614 square feet and sits on 11.13 acres. The acquisition was financed with a loan amount of $12,200,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,200,000
- Loan Type: Acquisition
- Market: Basking Ridge, NJ
- Buyer: Sonny Adoni - Adoni Property Group
- Seller: Kushner Real Estate Group
- Mortgage Brokers: Max Custer, Gerard Quinn, Ryan Carroll, Kevin Badger - JLL
- Brokers: Kevin O’Hearn, Jose Cruz, JB Bruno & Cole Doyon - JLL
The deal was facilitated by JLL Capital Markets, which arranged the acquisition financing through a life insurance company. The brokerage teams comprised of Kevin O’Hearn, Jose Cruz, J.B. Bruno, and Cole Doyon managed the sale, while the financing was sourced by Max Custer, Gerard Quinn, Ryan Carroll, and Kevin Badger.
On the Map
$12,200,000
$201/SF
Retail
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Players
Basking Ridge Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93