Capelli Enterprises, which owned the property privately, worked with Jeff Dunne, vice-chairman of CB Richard Ellis in Stamford, CT, who represented Capelli and procured the buyer. "The acquisition of the Solo Cup manufacturing facility is a crystal clear illustration of the Hampshire Cos. investment strategy," says Norman A. Feinstein, Hampshire EVP. "We are actively seeking out well-located facilities that are attractive to, or currently under lease to, investment-grade tenants, and add value so that our investors realize above market returns."

This is the second Greater Boston market transaction in recent months for the Hampshire Cos., who sold the 64,215-sf Big Y Supermarket location in Chicopee to Mesirow Realty Sale-Leaseback Inc. in December for $9.6 million. Hampshire owns five other assets in the Bay State, including the 104,232-sf BJ's Wholesale in Weymouth, a number of multi-tenant retail centers on Cape Cod and the US Post Office in Weymouth. The company focuses primarily on the New England and Mid-Atlantic regions, but owns properties throughout the country, according to Feinstein.

The property was purchased out of the Hampshire Partners Fund VI, a recently completed capitalization fund of $235 million. The focus of this value-add fund is on industrial, retail and suburban office product located in the growth corridors of the Northeast and MidAtlantic. The fund is very active in seeking additional acquisitions throughout its targeted markets, according to Feinstein. "With our present pipeline, Hampshire Partners Fund VI should be 40% invested by the second quarter of 2005," he says.