acquired

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The loan was arranged for Hampshire by Holliday Fenoglio Fowler,and specifically senior managing director Jon Mikula and associatedirector Michael Klein of that firm's Florham Park office. Thefour-year, fixed-rate loan was placed with Principal GlobalInvestors.

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"The proceeds of the loan are being used to close on thepurchase of the property, and to pay for closing costs and theleasing commissions tied to retenanting the building," Mikula tellsGlobeSt.com.

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That retenanting recently came in the form of electronicsretailer P.C. Richard, which signed a full-building lease thissummer. The building had previously been jointly occupied bytrucking firm Sea Jet Industries and Millwood Inc., a packagingcompany, both of which had relocated within the region.

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The Hampshire fund acquired the building and its 15.7-acre sitefrom Carteret Ventures LLC, a local group. The sale price was notdisclosed, but industry sources put the number in the $20-millionrange.

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The property is located just off Exit 12 of the New JerseyTurnpike, a few miles south of the facilities of the Port ofNewark/Elizabeth, and Newark Liberty International Airport.

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