[[{“value”:”
**RIVANI Trades Net-Leased Retail Portfolio in Morris County, NJ for $27.9M**
JLL Capital Markets has announced the successful $27.9 million sale of The Gardens Portfolio, a fully leased net lease retail investment property located in Mt. Olive, New Jersey. The transaction was facilitated by JLL’s Corporate Capital Markets and Net Lease teams, with Senior Managing Directors Kevin O’Hearn and Jose Cruz, and Senior Director JB Bruno representing the seller, RIVANI. The identity of the buyer has not been disclosed.
Situated in western Morris County, the Gardens Portfolio comprises eight retail properties distributed across seven pad sites, totaling 32,493 square feet, in addition to a single-tenant Lowe’s occupying 135,039 square feet. The portfolio includes five ground leases and four net leases, with approximately 64% of the annualized base rent stemming from ground leases.
“The Gardens Portfolio represented an exceptional opportunity to acquire long-term ground leases and net leases with high-quality, credit tenants,” said Kevin O’Hearn. “The property’s strategic location in an underserved retail market combined with its stable cash flow profile with mid-term upside potential made it an attractive acquisition for the buyer.”
This transaction highlights continued investor interest in stable, credit-anchored retail assets in key suburban markets.
“}]]
