Hampshire Cos. Sells Six-Bldg Industrial Portfolio for $147 Million

AEW Capital Management Obtains 1.2 Million SF Across Northern New Jersey

June 20, 2017

Boston-based AEW Capital Management acquired a six-property Northern New Jersey industrial portfolio from The Hampshire Cos. for $146.85 million, or about $121 per square foot.This deal totals about 1.22 million square feet in structures situated across the Route 46 Corridor, Teterboro Airport, Fairfield, and Carteret/Avenel commercial submarkets. Of the six properties, 200 Middlesex Ave. in Carteret, NJ, is the biggest at 408,437 square feet and is currently inhabited by Continental Terminals.Other prominent occupants that are included within the portfolio are R.R. Donnelley, RLB Food Distributers and Sealed Air.” With demand high and product restricted, now was the right time to perform our financial investment strategy and sell the portfolio,”Todd Anderson of The Hampshire Cos. said in a release.The vacancy rate in the market is a tight 5% and asking rental rates averages$6.64 per square foot in the existing quarter, inning accordance with CoStar data.Jody Thornton, Jon Mikula, Jose Cruz, David Giancola, and Rob Borny of HFF, Inc. represented Hampshire Cos. in the transaction. Andrew Zak supplied in-house representation for AEW Capital Management.Please see CoStar COMPS # 3929541 for more information on the transaction. “Go To National News Page

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