West Orange, NJ (PRWEB) August 5, 2009
The Hampshire Companies, a full-service, private real estate investment fund manager with equity in assets valued at more than $2 billion, together with joint venture partner, Paragon Realty, has announced that The Urology Group of New Jersey has leased 13,776 square feet at 375 Mount Pleasant Avenue in West Orange, N.J. The property is a part of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
The former Organon USA research and development building is currently being renovated to Class A standard and is zoned for hospital and medical office use. The 106,000-square-foot facility is situated on 11 acres and features an attended parking garage. The property is conveniently located a half mile from Rt. 280 at Prospect Avenue and is within walking distance to Essex Green Shopping Center. The building also features close proximity to area hospitals including Saint Barnabas Medical Center and Mountainside Hospital.
"375 Mount Pleasant Avenue's location within an easy reach of area hospitals and state-of-the-art upgrades and renovations made this an ideal space for premier medical use tenants such as The Urology Group of New Jersey," said Todd Anderson, a Principal of The Hampshire Companies.
The Urology Group of New Jersey is expected to occupy the space in November. Frank Gunsberg of First Service Williams represented The Hampshire Companies and Paragon Realty in the transaction. John Feeney, of Studley, represented the tenant.
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.
R&J Public Relations