PARSIPPANY, NJ-The Hampshire Cos. has acquired two buildings housing daycare centers in Parsippany, NJ and West Orange, NJ, totaling 16,320 square feet, from New Dimensions Learning Corp. The properties, at 627 Mount Pleasant Ave. in West Orange and 920 Edwards Rd. in Parsippany-Troy Hills are fully leased by Clockwork Learning Centers, which offers daycare and education for children up to 6 years old.
“These particular assets fit in well with Hampshire’s investment strategy due to their convenient locations and the fact that they are fully-leased by a strong-credit tenant,” says Don Engels, a principal at the Hampshire Cos. “The locations’ close proximity to major area highways and easy access makes the sites ideal for the growing daycare provider.” The sales amount, according to Hampshire, is undisclosed.
The 2.3-acre West Orange site totals 11,289 square feet and is near Interstate 280 and the Garden State Parkway, while the 5,031-square-foot Clockwork Parsippany is close to Interstates 80 and 280, and Route 46.
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