BERLIN, CT-In two separate deals, Morristown, NJ-based the Hampshire Cos. purchased two fully leased properties here. The firm acquired 83 White Oak Dr., a 50,360-sf warehouse and distribution building and 81 Fuller Way, a 22,130-sf industrial building for an undisclosed amount.
Both deals were made on behalf of the Hampshire Generational Fund, one of the company's private equity real estate investment funds targeted to high net worth investors. Hampshire Cos. purchased 83 White Oak Dr. from the PRT LLC. The building is currently 100% leased to AW Direct, a service vehicle accessories subsidiary of Chicago-based W.W. Grainger Inc. Robert Daglio, SVP of CB Richard Ellis' Hartford office, represented the buyer and the seller in the deal.
Hampshire acquired 81 Fuller Way from the Covel Family Trust. The industrial building is fully leased to Space Electronics LLC, a manufacturer of high precision scientific instruments used to test satellites, rockets, weapons and jet engines. The building also serves as the company's headquarters. CB Richard Ellis' Daglio represented both parties in this transaction as well.
Norman Feinstein, executive managing director of the Hampshire Cos., says of the White Oak Drive purchase, "This acquisition is in keeping with the overall strategy of the Hampshire Cos. We believe that Connecticut offers a viable and vibrant real estate market for our investors. This property adds to our already substantial presence in this prestigious suburban Connecticut market."
He adds that the Fuller Way industrial building "will offer great opportunities to our investors as well as to potential tenants."
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