Piscataway, NJ (PRWEB) May 11, 2006
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1 billion, recently hosted an open house broker event at the Embassy Suites in Piscataway, New Jersey to unveil its build-to-suit property at 140 Centennial Avenue. The event was designed to showcase the soon-to-be completed state-of-the-art building designed for biotechnology, aeronautics or pharmaceutical corporations that can be completely customized to fit the needs of tenants.
Attended by over 65 brokers, the event offered a first-look at the many major upgrades that have begun at the property in the nine months Hampshire has owned the property. Additionally, the Hampshire Companies announced a new incentive for brokers—the ability to win a BMW 750 to the first broker that closes a lease deal for the entire property. Other prizes were offered for attending the event, including over $2,500 in American Express Gift Cards.
“Hampshire has undertaken significant property improvements to make it highly attractive to hi-tech companies in the Central New Jersey marketplace that require brand new amenities with the ability to accommodate a flexible office layout,” notes Deborah Haller, Asset Manager for Hampshire Partners Fund VI, a private equity investment fund that owns the property.
Haller noted that these improvements include:
- Upgraded, re-designed and re-decorated lobby
- Re-configuration and remodeling of office common areas
- Extensive landscaping and hardscaping
- Upgraded HVAC and other building systems
- Completely redesigned curtain wall
140 Centennial Avenue, located in the heart of Central New Jersey, is conveniently located off Interstate 287 with easy access to the New Jersey Turnpike, Garden State Parkway and Routes 18, 1 and 22. Hampshire acquired the 87,501 square foot building in August 2005 and promptly undertook efforts for major site upgrades and property renovations.
“The Hampshire Companies recognized a market need for hi-tech office space in the technology-driven Central New Jersey marketplace and undertook plans to provide this space in the most convenient location with easy access to major highways,” noted Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “This event allowed The Hampshire Companies to demonstrate our ability to attract high-quality tenants and to present solutions for the growing business challenges for companies requiring office space featuring the latest in technology and design.”
Hampshire Partners Fund VI is a commingled, discretionary value-added real estate investment fund. The goal of Hampshire Partners Fund VI is to deliver superior, above-market returns to its institutional investors through the acquisition, repositioning and operation of investment-grade properties in attractive locations. 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.
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.
# # #