New Providence, NJ (PRWEB) June 30, 2006
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, announced that Chemetall Oakite Products, Inc. has signed a 12-year lease for 36,704 square feet of office and laboratory space at 675 Central Avenue in New Providence, New Jersey. Chemetall Oakite will move its corporate headquarters to the building later this summer from Berkeley Heights, NJ.
The 675 Central Avenue property is nestled in the Watchung Mountains of Northeastern Union County, and is located near Route I-78, just 15 miles from Newark Liberty International Airport. The 73,000 square foot building is part of the Hampshire Partners Fund VI portfolio, Hampshire’s private real estate equity investment fund for institutional investors.
Steve Fleming, Senior Vice President and Jim Medenbach, Vice President, of the Staubach Company’s Corporate Services Division represented Chemtall Oakite in this transaction.
Chemetall Oakite is a leading specialty chemical company that has been developing, manufacturing, and supplying state-of-the art specialty chemical products since 1909. The QS9000/ISO 9001 certified company offers a wide spectrum of products and systems to meet the needs of many industries, including aerospace, agricultural, appliance, architectural, automotive, coil coating, cold forming, and other surface treatment-related markets. Chemetall Oakite is a member of the Chemetall GmbH Group.
“The Hampshire Companies is pleased to have had the opportunity to work with Chemtall Oakite in fulfilling their headquarters facility requirement,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “With this transaction, the office portion of 675 Central Avenue is now 100% leased. The building can accommodate additional users of up to 37,000 square feet of warehouse, laboratory, distribution or light manufacturing, and we are actively marketing that availability.”
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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