Whippany, N.J. – December 11, 2007 – The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $1.5 billion, has acquired a 40,250-square-foot industrial building located at 135 Algonquin Parkway in Whippany, N.J. from American Renolit Corporation. The acquisition was made on behalf of The Hampshire Generational Fund, one of the firm’s private equity real estate investment funds tailored to high net worth investors.
The building is situated on 3.44 acres in an industrial park setting, which offers easy access to Route 10 and Interstates I-287, I-80 and I-78.
“With vacancy rates below eight percent in the Morris County industrial market, this acquisition should be a strong performer,” said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. “This transaction is evidence of our commitment to investing in quality properties in superior locations.”
NAI James E. Hanson represented The Hampshire Companies in the transaction and Resource Realty represented the seller.
The Hampshire Generational Fund, LLC, is a commingled, discretionary real estate investment fund. The goal of the Fund is to deliver superior, above-market returns to its investors through the acquisition and operation of industrial, retail, and office products as well as an investor in other real estate funds.
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/.
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