The Hampshire Companies Acquires 28-Building Industrial Portfolio Totaling Almost 1 Million Square Feet in Northern NJ
Fairfield, N.J. (January 30, 2014) --The Hampshire Companies, a full service, private real estate investment firm with equity in assets valued at more than $2.5 billion, announces the acquisition of Fairfalls Industrial portfolio, a 989,200-square-foot industrial portfolio that includes 26 industrial buildings in Fairfield, N.J., and two industrial buildings in Little Falls, N.J. The portfolio of properties was purchased from Prologis, a publicly traded industrial property REIT.
“Easy accessibility to the Port of Newark-Elizabeth, Manhattan and Eastern Pennsylvania, coupled with the densely populated and affluent housing available in the northern New Jersey suburbs and time-tested high occupancy, make this a highly sought location which we expect will result in growing rents and value for our investors,” said Rob Schmitt, a Principal at The Hampshire Companies. “With substantial local knowledge, our strong asset management team will be able to optimize the financial return and value of these assets.”
At acquisition, the industrial portfolio was 96 percent leased to 57 local and international industrial tenants with long-term leases, providing diversified business sector exposure. Spanning 64 acres in the suburban Essex industrial sub-market, the portfolio offers easy access to major area highways such as Interstates 80, 280, 287 and Route 46.
Andy Merin, David Bernhaut, Gary Gabriel and Kyle Schmitt of Cushman & Wakefield’s Capital Markets Group represented Prologis in the transaction. Jones Lang LaSalle was the leasing agent during the transaction. Hampshire has retained the Jones Lang LaSalle leasing team of David Knee, Blake Chroman, Chad Hillyer and Jenna Imperatore as its exclusive leasing agents for the portfolio.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment firm based in Morristown, N.J. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at www.hampshireco.com.
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