Morristown, NJ (PRWEB) May 25, 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 185,140 square foot warehouse and distribution facility located in Franklin Township, Somerset County, New Jersey. The acquisition was made on behalf of Hampshire Partners Fund VI, Hampshire’s institutional real estate investment fund.
The One Wiley Drive property consists of a single-story building situated on approximately 24.8 acres with easy access to Interstates 287, 95 and 78, as well as to Routes 22, 18 and 1. The property features 25’ clear ceiling heights and is located in a core warehousing section within the dynamic Somerset submarket. The facility is leased on an absolute net basis to John Wiley & Sons, Inc., a NYSE-listed global publisher of print and electronic products.
“One Wiley Drive provides Hampshire Partners Fund VI with a quality, well-located facility that is currently 100% occupied by an exceptional credit worthy tenant in an active industrial market,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “Additionally, the potential for expansion within the 24.8-acre parcel makes this a very attractive property with tremendous upside value-add potential for Hampshire Partners Fund VI.”
Jeffrey Dunne and Jeffrey Oram of the CB Richard Ellis’ New York Tri-State Investment Team collaborated with Mindy Lissner of CBRE’s East Brunswick, NJ office to represent both The Hampshire Companies as well as the seller, a commingled pension trust fund, in this transaction.
The Hampshire Companies continues to actively seek superior industrial, office and retail properties in desirable locations throughout its targeted markets for its Fund VI portfolio. “This acquisition is representative of the type of acquisition that fits well within our Fund VI investment objectives, and should deliver a substantial return for our investors,” noted Feinstein.
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 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.
Media contact: John Lonsdorf, R&J Public Relations
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