Teterboro, NJ (PRWEB) December 14, 2006
W.W. Grainger, Inc. (GWW-NYSE), a leading North American industrial distributor, has leased 30,538 square feet from The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, for the industrial space located at 506 Route 46 West in Teterboro, NJ. The transaction was made on behalf of The Hampshire Generational Fund, one of the firm's private equity real estate investment funds tailored to high net worth investors.
506 Route 46 West will serve as W.W. Grainger, Inc.'s Northern New Jersey sales office. The 77,804- square-foot property offers easy access to Routes 46, 80, and 4.
"W.W. Grainger, Inc.'s long-term lease of ten years has brought 506 Route 46 West to full occupancy," said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. "This property continues to be a great asset to the Fund's portfolio and has proven to be extremely beneficial to our investors."
Thomas F. Monahan of Colliers Houston represented W.W. Grainger, Inc.'s and Jeffrey W. DeMagistris of NAI James E. Hanson represented The Hampshire Companies in the transaction.
"506 Route 46 West is a great location for an industry leader such as W.W.
Grainger, Inc.," said Mr. DeMagistris. "With vacancy rates well below seven percent in Bergen County's industrial market it is no surprise that this building is fully leased given the excellent area demographics."
The Hampshire Generational Fund, LLC, is a commingled, discretionary real estate investment fund. The goal of the Fund is to deliver superior, above-market returns to its investors through the acquisition and operation of industrial, retail, and office product as well as an investor in other real estate funds.
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.