Bridgeport, CT (PRWEB) January 24, 2007
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, together with its joint venture partner, Select Corner Park, LLC, recently announced the disposition of a 14,160-square-foot retail building located at 1000 Park Avenue in Bridgeport, CT. The sale was made to John Frisari of Brooklyn, NY on behalf of The Hampshire Generational Fund, one of the firm's private equity real estate investment funds tailored to high net worth investors. (http://www.hampshireco.com)
Situated on 2.05 acres, the building is within close proximity of I-95. The building is leased by the largest drugstore chain in the United States, Walgreens. Not included in the sale is a .6 acre parcel of undeveloped land that the joint venture has retained for future investment.
"By securing a 25 year lease deal with Walgreens, we were able to maximize an excellent return to our investors. In addition, through maintaining ownership of the undeveloped land, we are preserving an additional investment opportunity for the future," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies.
Chris Bosworth of CB Richard Ellis represented The Hampshire Companies in the transaction.
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.