Berkley Heights, N.J. (PRWEB) June 1, 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 98,170-square-foot self storage facility located at 310 Synder Avenue in Berkley Heights, N.J. from Tuckaway Mini Storage, Inc. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
The three-story building features 661 climate controlled self storage units totaling 51,171 square feet of rentable space. The facility is ideally located with easy access to major area highways including I-78, I-287 and U.S. Route 22.
"This state-of-the-art facility was an ideal investment for us," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "The building's excellent area demographics, additional development opportunities, and Hampshire's successful track record of acquiring and profitably operating self-storage facilities makes this an excellent addition to our portfolio."
The Hampshire Companies represented itself in the transaction while Sperry Van Ness Commercial Real Estate Advisors represented the seller.
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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