Newark, N.J. (PRWEB) August 2, 2008
The Hampshire Companies, a full-service, private real estate investment fund manager with equity in assets valued at over $2 billion, has announced the acquisition of a 25,000-square-foot industrial building located at 361-371 South Street in Newark, N.J. from Polarome International, Inc. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Situated on over four acres, the property is conveniently located in close proximity to one of New Jersey's prime distribution markets offering easy access to the N.J. Ports and the Newark Liberty International Airport. Upon acquisition, Polarome International, Inc., a worldwide manufacturer and distributor of essential oils, aroma chemicals, fragrances, flavors, perfumes and raw materials, entered into a lease with Hampshire.
"The building's location and Hampshire's ability to secure a lease from the seller made this an attractive investment for our institutional real estate investment fund," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies.
Tom Monahan of Colliers Houston represented The Hampshire Companies in the transaction.
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 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.