Morristown, NJ (PRWEB) February 10, 2006
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1 billion, announced today the acquisition of a two story, 133,090 square foot Class A office building located at 15 Vreeland Road in Florham Park, New Jersey. The acquisition was made through Hampshire Partners Fund VI, Hampshire’s institutional investment fund.
The 15 Vreeland Road property is superbly located on 15.17 acres within a high-end suburban office campus in prestigious Morris County and Florham Park, New Jersey. The property offers many upscale features and amenities that make it a perfect headquarters facility, including a dramatic atrium lobby, 10’ finished ceilings, a full-service cafeteria, and abundant 5:1,000 sf parking ratio. Although suitable as a headquarters facility, the building’s superior layout also allows it to be easily divided to comfortably accommodate three to four tenants.
The property was purchased from Glenborough Properties, L.P., a REIT based in Boston, MA. Jeffrey Dunne, Vice Chairman and Kevin Welsh, First Vice President of CB Richard Ellis’s Saddle Brook office represented both Hampshire Partners Fund VI and Glenborough Properties, L.P. in the transaction.
“The Hampshire Companies continues to actively seek superior properties in desirable locations for our Fund portfolio,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “This acquisition has tremendous upside potential both for quality tenants seeking a superb building in a great location, as well as for our investors.”
Hampshire Partners Fund VI is committed to delivering superior, above-market returns to its investors through the acquisition, repositioning and operation of quality investment properties. The emphasis of investment for this value-add fund is on industrial, retail and suburban office property 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.
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.
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