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Hampshire Nabs 129,000-SF Flex Building

WARREN, NJ-Cushman & Wakefield arranged the Somerset Technology Center sale.

By Alyson Grala | Updated on July 26, 2010

WARREN, NJ-Somerset Technology Center, a two-building, 129,000-square-foot office and warehouse complex here, traded in a late-second-quarter sale arranged by real estate services firm Cushman & Wakefield Inc.’s Metropolitan Area Capital Markets group. The Hampshire Cos. acquired the asset at 150 Mount Bethel Rd. from Archon Group.

According to Cushman & Wakefield’s David Bernhaut, who orchestrated the transaction with team members Andrew Merin, Gary Gabriel, and Robert Donnelly Jr., this value-add purchase involves a quality asset in a core market. “The Hampshire Cos. capitalized on an attractive opportunity,” he tells GlobeSt.com. “The firm can reposition or redevelop this versatile office and flex campus, which is very well located between I-78 and Route 22. The excellent cost basis will provide tremendous flexibility in a challenging leasing environment.”

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