Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW BRUNSWICK, NJ-Existing tenant C&S Grocers has renewed its lease for 301,626 sf, comprising the entire warehouse/distribution building at 571 Jersey Ave. here. The building is owned by the Hampshire Cos., a Morristown-based private real estate investment fund manager.

The current lease for C&S Grocers, based in Keene, NH and the country’s third largest food distribution company, had been slated to run out on April 1, 2005. The renewal transaction is valued at more than $10 million, according to Norman Feinstein, senior vice president of Hampshire. Further terms of the signing were not disclosed.

The building itself sits on an 18.4-acre site that has close proximity to Exit 9 of the New Jersey Turnpike in Middlesex County. The location is one of several the tenant has in the Garden State–the others are a second location here, as well as sites in Dayton and Woodbridge–and New Jersey is one of 10 states in which the company has distribution centers.

“This lease extension illustrates an important aspect of our overall strategy, namely to efficiently and effectively manage properties in our portfolio so that they achieve maximum return for our investors,” Feinstein says.

Hampshire operates through commingled, discretionary real estate funds. The funds are value-added vehicles targeting industrial, retail and office properties located in the Mid-Atlantic and Northeast regions of the US, and its current holdings are valued in the $500-million range, according to Feinstein. “Acquisition of quality buildings and properties that have the potential to produce substantial income for our investors is the key component of our growth strategy.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.