Hampshire Partners Fund VII Acquires Industrial Building in Fair Lawn, N.J.
Inks 17,000 lease deal.
Fair Lawn, N.J. (PRWEB) December 2, 2007 -- The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, has announced the acquisition of a 133,000-square-foot industrial building located at 17-09 Zink Place in Fair Lawn, N.J. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's recently launched $350 million institutional real estate investment fund.
17-09 Zink Place features 24' ceilings, eight tailgate bays and ample parking. The building is in close proximity to Route 4. Hampshire intends to reposition the building to bring it up to modern standards for multi-tenant use. Scheduled improvements include new windows, roof, facade and parking lot.
Recently, Hampshire inked a 17,000-square-foot lease with Anything IT at the property.
"This acquisition was an excellent opportunity for us to strengthen our industrial portfolio," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "The facility's prime location within Bergen County's industrial market makes it an excellent investment for our investors."
About Hampshire Partners Fund VII
Hampshire Partners Fund VII is a commingled, discretionary value-added real estate investment fund. The goal of Hampshire Partners Fund VII 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-add 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 www.hampshireco.com.
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