Haverford Properties Buys 215 KSF Retail Center

Hartford Corners is 95 percent occupied. Image courtesy of JLL

Haverford Properties Inc. has acquired Hartford Corners, a 214,896-square-foot retail center in Delran, N.J. JLL worked on behalf of the seller, Principal Asset Management, and secured financing for the buyer. According to CommercialEdge, the property last traded in 2016.

Located at 1330 Fairview Blvd., on 9.8 acres, Hartford Corners is 95 percent occupied. ShopRite, the property’s anchor tenant, has a tenure of 19.5 years, with 5.5 years remaining. Built in 2003, the center features a WALT of 4.1 years and a weighted average tenure of 13.8 years. Other tenants include Planet Fitness, Five Below, Virtua Health, Five Guys and Mattress Firm. Additionally, the property is shadow-anchored by Lowes.

Grocery-anchored shopping centers continue to drive the most demand among other retail asset classes, JLL’s Managing Director Colin Behr commented in prepared remarks. JLL’s Behr together with Senior Managing Directors Jim Galbally and Christopher Munley, Director James Graf and Associate Patrick Higgins were part of the team that represented the seller, while Managing Director Jim Cadranell led the JLL Retail Capital Markets Debt advisory team.