Linden, NJ (PRWEB) August 17, 2008
The Hampshire Companies, a full-service, private real estate investment fund manager with equity in assets valued at more than $2 billion, in a joint venture with Tulfra Realty Company, LLC, have announced the acquisition of a 36,000-square-foot industrial building located at 1901 East Linden Avenue in Linden, N.J., from U-Store-It. Hampshire's investment was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Ideally situated at Exit 13 on the New Jersey Turnpike, 1901 East Linden Avenue offers easy access to the Port of New York/New Jersey and Linden, Rahway, Elizabeth and Newark labor markets. The building is currently 92% occupied.
"The property's excellent location and history of occupancy makes this an ideal addition to our industrial portfolio," said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. "With minimal vacancy, we expect 1901 East Linden Avenue to be a strong portfolio acquisition for our institutional fund investors."
NAI James E. Hanson represented The Hampshire Companies and Tulfra Realty in the transaction, while the seller was represented by CB Richard Ellis.
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.
About Tulfra Realty Company, LLC
Based in Rochelle Park, N.J., Tulfra Realty Company, LLC is a leading real estate management and developer of industrial buildings, land and industrial condominiums. Tulfra's current portfolio consists of over 4 million square feet in more than 50 buildings with a tenant base of 100 private and public companies.