Morristown, NJ (PRWEB) September 27, 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 single story, 32,000 square foot retail property located at 87 Marginal Way in Portland, Maine. The acquisition was made on behalf of Hampshire Partners Fund VI, Hampshire’s $235 million institutional investment fund.
The 87 Marginal Way property is fully-leased to Wild Oats Markets, Inc., which operates natural foods supermarkets throughout the United States and Canada. The property is superbly located at the corner of the Prebble Street Extension on approximately 2.34 acres just off of I-295 in Portland’s Bayside section, one of Southern Maine’s fastest growing commercial districts. The property is within a short distance of Portland’s “Old Port” and financial districts.
The 87 Marginal Way building was purchased from Cheeky Monkey, LLC. Daniel Greenstein and Gregory W. Boulos, both Partners of CB Richard Ellis/The Boulos Company in Portland, ME, represented both the seller and Hampshire Partners Fund VI in the transaction.
“This property was attractive to us from a number of standpoints, not the least of which is that it is fully-leased on a long-term basis to a high-credit tenant,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “This high-visibility property in an area that is experiencing strong retail and commercial growth should represent a solid investment for our Fund.”
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.