The sale price was $8.6 million, which factors out to about $47.50 per sf. The multi-tenant building is located within Cherry Hill Industrial Park, near I-95, I-295 and the New Jersey Turnpike. The building, built by First Industrial Realty Trust, was at one time fully occupied by Siemens. The latter vacated the premises about four years ago.

"Hampshire Partners Fund VI is constantly seeking opportunities in the marketplace," says Norman A. Feinstein, executive vice president of the Morristown-based Hampshire Cos. "Completing this transaction should benefit both organizations.

"The goal of Hampshire Partners Fund VI is to deliver above-market returns to investors through the acquisition, repositioning and operation of investment-grade properties. With our present pipeline, we expect the fund to be 40% invested by the end of the second quarter of this year. With the target leverage set at 60% to 65%, the fund will be acquiring approximately $600 million worth of real estate during the three-year investment period."