press release brought to you by The Hampshire Companies
The Hampshire Companies Sells Prime Multi-Tenant Industrial Building in Meadowlands
February 19, 2014 | Morristown, NJ
East Rutherford, N.J. (February 18, 2014) – The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, has announced the sale of a 135,498-square-foot industrial building located at 25 East Union Avenue in East Rutherford, N.J.
Spanning nearly five acres of land in the epicenter of the Meadowlands submarket, one of the most sought-after industrial markets in the United States, the 135,298-square-foot industrial building boasts amenities such as 18-foot ceiling heights, four grade level overhead doors, a mezzanine office area and three dock high overhead doors. The single-story industrial building is 98 percent leased to Mount Pleasant Ice Cream Company, Selco Associates and Steamaster Company, Inc.
“The buyer was provided a unique opportunity to acquire a property with proven, stabilized cash flow with a diverse group of tenants operating in a strategic location,” said IgorDerbaremdiker, Senior Investment Manager for The Hampshire Companies. “The scarcity of stabilized investments in New Jersey, specifically within the Meadowlands, further highlights the value of this building, allowing Hampshire to reach its investment objectives.”
Situated eight miles outside of New York City and 13 miles from Port Newark, the building is ideally located off Route 17 and provides easy access to major area highways including the Garden State Parkway, New Jersey Turnpike and Route 80.
CBRE represented The Hampshire Companies in this 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.