Morristown, NJ (PRWEB) June 5, 2006
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, announced today the acquisition of a 146,639 square foot office/flex/warehouse building located at 18-01 Pollitt Drive in Fair Lawn, New Jersey. The acquisition was made through Hampshire Partners Fund VI, Hampshire’s institutional investment fund.
The 18-01 Pollitt Drive property is superbly located in an industrial park on over nine acres in the strategically-situated Bergen County community of Fair Lawn. The property is just off of NJ Route 208 and has quick access to Route 287 a major north/south thoroughfare that connects with the New York State Thruway. The property also features easy access to the Garden State Parkway and the New Jersey Turnpike. The building is currently 30% occupied by M&I Data Service and The Society of Valley Hospital.
The property was purchased from Polevoy Associates who was represented by The Acclaim Group and GK Realty Services in the transaction.
“The Pollitt Drive property offers future tenants flexible space to fit their individual needs while also being strategically located in one of the most desirable areas of New Jersey,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “This acquisition fits in well with the overall Hampshire strategy of acquiring properties that possess a value add component with the ability to reposition assets- in superior locations that will provide superior returns for our investors and great space for prospective tenants.”
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 continues to be 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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