Freehold, NJ (PRWEB) September 24, 2009
The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $2 billion, with joint venture partners Pyramid Property Partners and Triad Development Company has announced the sale of 44,922 square feet of condominium office suites at Pond View Professional Park located at 1101 West Main Street in Freehold, N.J. The three newly developed two-story buildings total 75,000 square feet of premier medical office space. Hampshire's investment in the development is a part of The Hampshire Generational Fund, one of the firm's private equity real estate investment funds tailored to high net worth investors.
Since breaking ground in late 2007 the property has received acclaim from the surrounding medical community with its state-of-the-art construction and its location less than 1/8th of a mile from CentraState Medical Center. Additionally, the property is appealing to many physicians not only due to its close proximity to CentraState but also because the development offers suites for lease or for sale, a lease to purchase program, and build-to-suit opportunities. Additional amenities include ample parking with 4.25/1,000 square feet ratio, easy access to Routes 33 and 9 and close proximity to historic Freehold, County Courts and Hall of Records.
"We saw an opportunity to meet the high demand for medical office ownership with this development," said Norman A. Feinstein, Executive Managing Director for the Hampshire Companies. "This highly successful joint venture has enabled us to set a new standard for today's medical/office facilities and offer physicians the unique opportunity to buy their own state-of-the-art office facility that allows easy access to the hospital for treating existing patients as well as connecting with new ones."
"The demand for premier medical office space throughout New Jersey is on the rise," added Steven Schultz, Managing Principal of Pyramid Property Partners. "Pond View has been proactive in meeting physicians' demands with its state-of-the-art construction and unparalleled location. We expect sales to remain strong as we move into the fourth quarter."
30,000 square feet currently remains available for sale or lease at the development which also has approvals to build another 25,000-square-foot facility. Current tenants include Advanced Orthopedics & Sports Medicine Institute, Heal and Care Pediatrics, Healthy Women Obstetrics and Gynecology, Personal Medical Care NJ, and Advanced Billing Strategies. Julie Nachamkin of The Schultz Organization is the exclusive leasing/sales agent. More information on Pond View Professional Park can be found at http://www.pondviewprofessional.com or by calling 732-855-001.
About The Hampshire Generational Fund
The Hampshire Generational Fund, LLC, is a commingled, discretionary real estate investment fund. The Fund caters to high net worth individual investors who are looking to diversify their investment portfolio by investing in real estate. The goal of the Fund is to invest in quality income producing assets that will appreciate over time and produce stable cash flow in order to generate quarterly distributions to our investors.
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 Pyramid Property Partners
Pyramid Property Partners, LLC ("Pyramid") is a real estate investment company that purchases, develops and redevelops commercial and residential real estate assets located throughout the tri-state area and Florida. Pyramid's goal is to enhance the value of its assets through development, redevelopment and financial restructuring.
The trademark of the successful company is to bring to each project the following: teamwork, dedication, integrity and the focus to achieve superior results. Pyramid's team is meticulously assembled by using the best architects, engineers and contractors in the business to deliver a consistently high standard of excellence. Over the years, Pyramid has established on-going, long-term relationships with lending institutions, consultants and government officials.
R&J Public Relations