Mechanicsburg, Pa. (PRWEB) January 16, 2008
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 596,000-square-foot distribution/ office building located at 1225 South Market Street in Mechanicsburg, Pa. from Bookspan, the parent company of Doubleday Entertainment and Yes Solutions. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's recently launched $350 million institutional real estate investment fund.
Situated on 101.71 acres, the two-story building is located within close proximity to I-76 and offers convenient access to the property via South Market Street and Route 114. This is Hampshire's second major acquisition in Mechanicsburg, having acquired a 414,016-square-foot warehouse building at 180 Kost Road in late 2006, for Hampshire Partners Fund VI, Hampshire's $235 million institutional investment fund.
"Bookspan will continue to occupy a portion of the office space under a long term lease. The balance of the building will be repositioned for a variety of tenants and users," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "This acquisition was an excellent opportunity for us to strengthen our warehouse portfolio."
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 http://www.hampshireco.com .
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