The seller was 1140/1160 Parsippany Boulevard Associates LLC, a local group represented in the transaction by senior vice president Thomas Monahan and associate broker Scott Lawliss of Colliers Houston & Co. The latter is a major tenant at the 88%-leased complex, maintaining a regional office at the site. Other major tenants are Custom Spine Inc. and Core Technologies.
"The buildings have had a history of excellent tenant occupancy," says Norman Feinstein, Hampshire's executive managing director. "They will continue to thrive. This acquisition is another good addition to our portfolio and offers opportunities for our investors."
The twin buildings are located just off Route 46 near both I-287 and I-80 in North Jersey's Morris County.
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