Morristown, NJ (PRWEB) April 24, 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 high-visibility, 7,380 square foot retail property currently occupied by AutoZone, under a long-term 20 year lease, situated on .59 acres located at 721 Main Street in Poughkeepsie, New York. The acquisition, valued at approximately two million dollars, was made on behalf of Hampshire Generational Fund, one of the firm’s private equity real estate investment funds tailored to high net worth investors.
The Auto Zone property is superbly located in Dutchess County in the heart of the Central Hudson Valley within close proximity to Route 9W and Interstate 87. The building is a single story, featuring steel frame construction in downtown Poughkeepsie.
The property was purchased from CMKK Poughkeepsie and features an AutoZone retailer, the number one auto parts retailer with over 3,600 stores throughout the United States.
“The Hampshire Companies continues to actively seek superior properties in outstanding locations like Poughkeepsie,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “This acquisition will deliver a solid return to our investors with a long-term lease in place with a strong credit tenant.”
The Hampshire Generational Fund, LLC, is a commingled, discretionary real estate investment fund. The goal of the Fund is to deliver superior, above-market returns to its investors through the acquisition and operation of industrial, retail, and office product as well as an investor in other real estate funds.
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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