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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.”

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