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Hampshire Buys 325,000 SF of Industrial

MORRISTOWN, NJ - The two separate transactions are headed by the pick-up and quick lease-up of a 300,000-sf W/D building in Carteret.

By Eric Peterson | Updated on August 04, 2008

MORRISTOWN, NJ – In separate deals, the Hampshire Cos., based here, has acquired two industrial buildings totaling just less than 325,000 sf. Both acquisitions were made on behalf of the firm’s Hampshire Partners Fund VII, a $350-million institutional real estate investment vehicle.

Most of that 325,000-sf total involves Two-Eight Germak Dr., a 299,625-sf W/D complex of four interconnected buildings on more than 15 acres in Carteret, near the Port of Newark/Elizabeth, the New Jersey Turnpike and Newark Liberty International Airport. Tom Monahan of Colliers Houston & Co. represented Hampshire. Carteret Ventures LLC, a local group, was the seller. The sale price was not disclosed.

Simultaneous to the acquisition, Hampshire brought in electronics retailer P.C. Richard & Sons with a full-building lease for W/D use, with Monahan again orchestrating the transaction for undisclosed terms. The complex had previously been occupied to Sea Jet Industries, a trucking firm, and Millwood Inc., a packaging company, both of which had relocated within the region. “We were able to lease the building quickly after acquiring the property,” confirms Norman A. Feinstein, Hampshire’s executive managing director.

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