At the time of sale, the two-story building was occupied by aunit of Mealey's Furniture, a family-operated chain based inBensalem, PA that operates several outlets in Southern New Jerseyand southeastern Pennsylvania. And the tenant will continue tooccupy the building and its 10-acre site under the terms of arecent five-year lease extension.

"We were able to negotiate the five-year deal with Mealey'sFurniture prior to the sale transaction, allowing us to optimizethe property's value prior to the disposition," says NormanFeinstein, executive managing director of the Hampshire Cos. "Thistransaction reflects, I believe, our ability to rapidly makestrategic decisions for our investors."

The Hampshire Generational Fund, for which the sale was made, isone of the firm's private equity real estate investment funds thatis tailored to high net worth investors. The combined value of thevarious funds managed by Hampshire is currently in the $1.5-billionrange.