Rockaway, NJ (PRWEB) August 18, 2007
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, recently announced the disposition of an 80,000 square-foot retail building located at 387 Mount Hope Avenue in Rockaway, N.J. The property was purchased by Carport LLC and 111 ON Realty Corp. from Hampshire Partners Fund VI, Hampshire's $235 million institutional real estate investment fund.
Adjacent to the 2,100,000-square-foot Rockaway Town Square Mall, the two-story retail property is situated within the Rockaway Town Plaza, a 410,000-square-foot retail center. The newly built store is leased to Dick's Sporting Goods, Inc., a leading sporting goods retailer, and is conveniently located in northern New Jersey, with easy access to Routes 46, 15, and Interstate 80.
"This disposition is evidence of Hampshire's ability to make sound moves on our investors' behalf," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "This was an excellent opportunity for us to secure above market returns for our institutional investors."
Jeffrey Dunne, Vice Chairman of CB Richard Ellis, represented The Hampshire Companies in the transaction.
Hampshire Partners Fund VI is a commingled, discretionary value-added real estate investment fund. The goal of Hampshire Partners Fund VI is to deliver superior, above-market returns to its institutional investors through the acquisition, repositioning and operation of investment-grade properties in attractive locations. The focus of investment for this value-added fund is on industrial, retail, and suburban office products located in the growth corridors of the Northeast and Mid-Atlantic.
About The Hampshire Companies
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.