The asset, which sits on 6.6 acres at 675 Central Ave., is fully leased as a regional office for Fishbach & Moore, an electrical contractor wholly owned by Excelon Corp. The tenant uses it for office, light assembly and warehousing purposes.
"This acquisition represents a tremendous value-added opportunity, and is in keeping with our overall strategy," says Norman Feinstein, SVP of Hampshire. "It is in a highly attractive market, with considerable barriers to entry and limited comparable assets.
"This asset can easily be repositioned upon termination of the existing lease, for use as either a multi-tenant flex building or for a single user with requirements similar to those of the current operator," Feinstein says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.