Joe Staugaard Of Haverford Retail Partners Acquires Retail Portfolio From David Lukes For $126M

A three-property retail portfolio was sold for $126,000,000. The properties are located at 154 South Route 10, 4332 Kent Road, and 4423 Birkland Place, encompassing a total of 767,546 square feet. The transaction took place in the East Hanover, NJ; Stow, OH; and Easton, PA markets. The properties are anchored by known tenants such as Giant Eagle, Best Buy, Dick’s, HomeGoods, and HomeSense, and generate an annual base rent of $10.95 million.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $126,000,000
• Buyer: Joe Staugaard - Haverford Retail Partners
• Seller: David Lukes - SITE Centers
• Broker: JLL
• Square Footage: 767,546
• Price per Square Foot: $164

This transaction was arranged by JLL Capital Markets as part of SITE Centers' portfolio-pruning strategy, reflecting a strategic move to optimize their holdings in the retail sector.