Morristown, NJ (PRWEB) August 23, 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 disposition of the 65,000 square-foot former Prentice-Hall office building located at 240 Frisch Court in Paramus, New Jersey. The sale was made to F&M Paramus Realty, LLC, and was brokered by John Stravitz of NAI James E. Hanson Company, who represented The Hampshire Companies on behalf of Hampshire Partners Fund VI.
Located in one of New JerseyÂs premier corporate centers, this property is a 3-story office building situated across the street from the Bergen Mall, immediately off Route 4. It was formerly occupied by publishing giant Prentice-Hall, and is still referred to locally as ÂThe Prentice-Hall Building.Â
The Hampshire Companies acquired this asset in early 2004, and promptly undertook a campaign to update the buildingÂs appearance and many of its systems to re-position it within the marketplace as a desirable Class-A multi-tenant office environment.
ÂThe disposition of 240 Frisch Court illustrates one of the core strategies of The Hampshire Companies, which is to acquire quality properties and to re-position them in the marketplace to generate maximum return for our investors,Â noted Norman A. Feinstein, Executive Vice President of The Hampshire Companies.
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 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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