The Hampshire Companies Sell Freestanding Retail Building in in Mechanicsville, V.A.
Mechanicsville, V.A. (January 15, 2014) – The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, a real estate investment holding group, have announced the sale of a 7,609 square-foot retail building located at 7991 Compass Point Lane in Mechanicsville, Virginia. The freestanding building was sold to a private investor and is leased to Bridgestone Retail Operations, the world's largest tire and rubber company.
With more than 2.6 million square feet of retail in a three mile radius, the Bridgestone building is located within the area’s preeminent retail corridors. Located at the intersection of Compass Point Lane and U.S. Route 360, the property is also surrounded by residential properties and offers easy access to Interstate 295 and the city of Richmond, providing strong destination traffic.
“The quality of the facility, its premier location, and the long-term lease agreement with a high caliber tenant provided us with the opportunity to capitalize on this asset,” said Igor Derbaremdiker, Senior Investment Manager for The Hampshire Companies. “Scarce inventory of high-quality net leases in the Mid-Atlantic region made this deal even more attractive to the buyer.”
Bridgestone Retail Operations is the sole tenant at the site until 2025. CBRE represented The Hampshire Companies in the transaction.
About the Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment firm based in Morristown, New Jersey. 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.