EAST HANOVER — A well-known Morris County shopping center has become part of a major national retail real estate transaction. East Hanover Plaza, located at 154 Route 10, is one of three properties acquired in a $126 million, three-state portfolio sale finalized between SITE Centers Corp. and Haverford Retail Partners.
The nearly 98,020-square-foot New Jersey plaza was singled out in the deal as a high-performing, fully leased retail center anchored by three powerhouse brands from the TJX Companies: HomeSense, HomeGoods, and Sierra. Together, these tenants occupy roughly 70% of the property, making East Hanover Plaza one of the most stable and sought-after retail destinations in the region.
A Strong Local Asset With Regional Pull
Positioned squarely along the heavily traveled Route 10 corridor — which sees more than 35,600 vehicles per day — East Hanover Plaza draws customers not only from East Hanover, Parsippany, and Livingston, but from across Morris and Essex counties. Its visibility, strong tenant mix, and affluent surrounding demographics made it a standout asset in the portfolio.
The shopping center remains 100% occupied, a rarity in today’s retail market and a testament to the plaza’s enduring strength.
Part of a Multi-State Retail Portfolio Acquisition
The acquisition includes:
• East Hanover Plaza — 98,020 sq. ft., East Hanover, NJ
• Southmont Plaza — 250,939 sq. ft., Easton, PA
• Stow Community Shopping Center — 418,587 sq. ft., Stow, OH
In total, the portfolio spans nearly 770,000 square feet across 46.8 acres, with an impressive 99% occupancy rate. The buyer, Haverford Retail Partners, plans to continue operating the centers as high-performing, open-air shopping destinations.
What This Means for East Hanover
Real estate analysts note that this level of investment underscores the ongoing strength of well-located, open-air retail centers — especially those anchored by national, credit-worthy tenants.
For East Hanover and nearby communities:
• No immediate changes are expected for shoppers or tenants.
• The sale may open the door to future improvements or reinvestment in the plaza.
• The stability of the tenant base helps ensure continued jobs, local spending, and tax revenue in Morris County.
Industry leaders say the deal reflects renewed confidence in suburban retail, especially in high-income markets like Morris County, where demand for home furnishings and lifestyle brands continues to thrive.
Retailers Currently at East Hanover Plaza
A snapshot of the current tenant lineup includes:
• HomeSense
• HomeGoods
• Sierra
• European Wax Center
• T-Mobile
• Five Guys
• Club Pilates
• Ideal Image
• Chipotle
• The Vitamin Shoppe
The potent mix of home, fitness, dining, and personal-care retailers contributes to the plaza’s long-term appeal.
