Madison, NJ (PRWEB) February 17, 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 13,100-square-foot retail building located at 345 Main Street in Madison, NJ from Lincoln Morris, Inc. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Ideally located in the heart of Madison, the building is situated on 1.31 acres and is currently vacant with interest from several national tenants as potential users. Hampshire plans to redevelop the property to make it more aesthetically reflective of the neighborhood's charm, and to maximize its rental rate.
"The building's excellent location in a thriving town like Madison made this acquisition an ideal investment as well as a solid addition to our portfolio," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies.
Weichert Commercial Brokerage represented Lincoln Morris, Inc. in the transaction while Hampshire was represented by Wivern Associates.
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.