Hampshire Partners Fund VII Acquires 252,393-Square-Foot Hackettstown Commerce Park in Hackettstown, N.J.
Hackettstown, N.J., Nov. 28, 2007 – 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 Hackettstown Commerce Park, a 252,393-square-foot industrial campus located at Bilby Road in Hackettstown, N.J. from B&W Associates. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire’s recently launched $350 million institutional real estate investment fund.
Currently the property consists of three buildings. Building I is fully leased, while Building II boasts a 90% leased status, in addition to the opportunity for the expansion of internal tenants. Building III is currently under construction with an estimated occupancy date of July 2009. Hampshire also has plans to introduce a fourth building to the campus, which will be slated for either medical offices or industrial use.
“Hackettstown Commerce Park offers a stable tenant base as well as a variety of opportunities for our investors and a stabilized cash flow,” said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. “We are confident that this acquisition will prove to be an excellent addition to our portfolio.”
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/.
