CARTERET, NJ-The Hampshire Companies has acquired a 400,000-square-foot port-area industrial building here for an undisclosed purchase price.

The building at 200 Middlesex Avenue is situated in Cartaret’s industrial area off the New Jersey Turnpike and close to the major ports.

“The building features solid, functional warehouse facilities, strongly catering to the industrial user,” said Michael Harrington, an investment manager for Hampshire.

“We anticipate increased activity in the port area over the next few years, and the building’s accessibility and close proximity to the ports made this an attractive investment opportunity,” he said. Also, Harrington said Hamshire liked the size of the building and its abundant functional warehouse space. 

The Hampshire Companies is based in Morristown.