Morristown, NJ (PRWEB) April 20, 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 an 87,840 square foot industrial building located at 8 Thornton Road in Oakland, New Jersey. The acquisition was made through Hampshire Partners Fund VI, Hampshire’s institutional investment fund.
The 8 Thornton Road property is superbly located on five acres in the strategically-situated Bergen County community of Oakland, New Jersey, minutes from Route 287, a major north/south thoroughfare that connects with the New York State Thruway, and just off of NJ Route 208, which runs through many of Bergen County’s business hubs. The property is a one-story warehouse that features 24-foot clear ceiling height and ample parking.
The transaction is a sale-leaseback, purchased from the Zrike Company, one of the top marketers of fine tableware and giftware in the United States including well-known brands such as Christopher Radko, Waverly, Woolrich and others.
“The 8 Thornton Road property fits in well with the overall Hampshire strategy of acquiring superior investment-grade properties in strategic, growth locations that will provide a stable cash flow for our investors,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “This acquisition has tremendous upside potential both for the Zrike Company 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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