Updated Oct 2, 2026
Terry S. Brown Of Asana Partners Acquires Hills Village Shopping Center In Bedminster For $60.7M
550 Hills Drive
$60,700,000
$551/SF
Building Size
110,000 SF
Asset Type
Retail
Closing
Oct 1, 2026
About this deal
AI
The asset involved in this transaction is a fully leased retail property located at 550 Hills Drive, Bedminster, NJ. The sale price was $60,700,000, and the building encompasses 110,000 square feet, resulting in a price per square foot of $552.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $60,700,000
- Buyer: Terry S. Brown - Asana Partners
- Seller: Dwight Angelini - Longpoint Partners
- Brokers: Jose Cruz, Kevin O’Hearn, J.B. Bruno & Cole Doyon - JLL
- Square Footage: 110,000
- Price per Square Foot: $552
The transaction involved Terry S. Brown of Asana Partners acquiring the asset from Dwight Angelini of Longpoint Partners. The property is anchored by Kings Food Markets and CVS and includes notable tenants such as Starbucks, PNC Bank, and Peapack Private Bank & Trust, reflecting a diverse tenant mix within the shopping center.
On the Map
$60,700,000
$551/SF
Retail
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Players
Bedminster Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93