SADDLE BROOK, NJ-The Hampshire Companies continues on a roll of industrial acquisitions, having purchased a 200,000-square-foot facility at 301 Mayhill Street here from Arrow Fastener Co.

The property is located near the Conrail freight line and also includes additional land for development in the heart of Route 46's industrial submarket. The building also offers easy access to major area railways and highways, including, Routes 46 and 17, the New Jersey Turnpike, and the Garden State Parkway.

“The property's prime location within a major distribution hub, and with superior visibility with signage opportunities along Interstate 80 made this an attractive investment opportunity on its own merits,” states Mike Harrington, a senior investment manager for The Hampshire Companies. “But with the additional land available for further development, this property represents a significant opportunity for us to realize additional value for our investors.”

Tom Monahan of CBRE represented The Hampshire Companies in the transaction. No financial details on the transaction were released.

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