The Hampshire Companies Announce The Acquisition of 3-Story Office Building in Morristown, NJ

The Hampshire Companies, a commercial real estate firm with a diversified national portfolio and over 80 years of experience in the industry, announced the acquisition of 3-story commercial building on 10 Dehart Street in Morristown, NJ. Including investment for capital improvements, the total aggregate value of this transaction is in excess of $1.4 million.

(PRWEB) August 10, 2004 -- The Hampshire Companies, a commercial real estate firm with a diversified national portfolio and over 80 years of experience in the industry, announced the acquisition of 3-story commercial building on 10 Dehart Street in Morristown, NJ. Including investment for capital improvements, the total aggregate value of this transaction is in excess of $1.4 million.

The 3-story classic colonial style building is located just off of the historic Morristown Green and right in the middle of the Morristown business district. The Hampshire Companies purchased just the shell of the building, with plans calling for a total renovation of the property. When completed, the building will potentially accommodate the expansion needs of The Hampshire Companies, necessitated by the success of their family of private real estate investment funds. In addition, The Hampshire Companies plans to lease the first floor of the building to a retail tenant.

This acquisition highlights The Hampshire Companies continuing growth and success," noted Norman A. Feinstein, Senior Vice President of the Hampshire Family of Private Real Estate Investment Funds. This transaction and our subsequent build-out will further cement The Hampshire Companies position as a prominent player in commercial real estate throughout the Northeast and Mid-Atlantic regions of the United States."

The Hampshire Companies operates through commingled, discretionary real estate investment funds. The funds are value-added, investment vehicles targeting industrial, retail and office properties located in the Mid-Atlantic and Northeast regions of the United States. The goal of each of the Funds is to deliver superior, above-market returns to its investors through the acquisition, repositioning and management of investment-grade properties.

The Hampshire Companies, led by its Chairman, Jon F. Hanson, is a third-generation, full-service real estate organization with over 80 years of experience and a mission to create and enhance value from investments in real estate opportunities. The Hampshire Companies philosophy is rooted in the belief that a steady, conservative investment outlook will allow the company to succeed regardless of underlying economic conditions. Being cautiously opportunistic, the firm consistently realizes returns higher than industry standards by creating and capitalizing on opportunities untapped by the markets. The company operates a diversified national portfolio of properties totaling over 15 million square feet. Additional information on the Hampshire Companies and its fund is available online at www.hampshireco.com

Media Contact: Jason Ledder, R&J Group (973) 331-1070.

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