(PRWEB) August 18, 2005
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1 billion, today announced the acquisition of the 55,000 square foot Center Point at 8A office/industrial building, located at 2 Commerce Drive in South Brunswick, NJ. The acquisition, valued at approximately $4 million, was made by Hampshire through its institutional fund, Hampshire Partners Fund VI.
The Center Point at 8A property consists of approximately 40,000 square feet of office space, with an additional 15,000 square feet of modern high-ceiling warehouse space. The partially-leased facility is strategically located at New Jersey Turnpike Exit 8A in Middlesex County, New Jersey. The property sits on approximately 6 acres.
ÂThis property was particularly attractive to our institutional fund, Hampshire Partners Fund VI, because of its strategic location in the active and vibrant Exit 8A market,Â noted Norman A. Feinstein, Executive Vice President of the Hampshire Companies. ÂOur vision is to provide superior facility and property management, execute several upgrades to the property and to increase the value of the asset.Â
The goal of Hampshire Partners Fund VI is to deliver superior, above-market returns to its investors through the acquisition, repositioning and operation of investment-grade properties. The focus of investment for this value-add fund is on industrial, retail and suburban office product located in the growth corridors of the Northeast and Mid-Atlantic. The Fund is currently very active in seeking additional acquisitions throughout its targeted markets.
ÂWe remain in an extremely strong and advantageous position relative to our competitors, in that we have readily available discretionary capital that allows us to quickly commit to opportunistic real estate investments in our core markets,Â continued Feinstein.
The Hampshire Companies is a full-service, private real estate investment fund manager 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 in order to consistently outperform the market. Additional information on The Hampshire Companies and its funds is available online at http://www.hampshireco.com.
R&J Public Relations, LLC
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