The site will serve as a service unit for Verizon FIOS' advanced technology products and services, said Ray Harari, leasing representative for Levin Management, which represented the owner in the transaction; Verizon FIOS was represented by Michael Stone of Cushman & Wakefield.
"Placing new concepts in new markets always means very specific, demanding requirements," Harari says. "Choosing the right sites is absolutely crucial to the success of any new roll-out, and Tthe Hills Village Center provides some of the strongest demographics in New Jersey."
Located at 400-470 US Highway 202/206 in Bedminster, the 109,800-square-foot center was created as the retail component of a 5,000-unit planned development known as the Hills. The site has a five-mile population of more than 60,000, with a median household income of $120,987 and an average household income of nearly $173,000 a year.
Originally a service-oriented property, the Hills Village Center has transitioned into a retail-oriented property during Levin's tenure. Major tenants include Kings Supermarket, CVS, PNC Bank, Starbucks, McGrath's Hardware, GNC, and Peapack-Gladstone Bank. With the addition of Verizon FIOS to the tenant roster, only two stores--of 960 square feet and 1,240 square feet--remain available. Two second-floor office spaces are also available.
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