X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Sean Ryan is associate editor of Real Estate New Jersey.

For more retail coverage, click GlobeSt.com/RETAIL.

MORRISTOWN, NJ-Hampshire Cos. based here, has acquired a 30-property portfolio of freestanding retail locations in 14 states, from American Financial Realty Trust totaling more than 230,000 sf. The selling price was not disclosed.

The properties are mostly excess Bank of America branch locations, but also include a few still occupied by Bank of America. Those still with BofA leases will be folded into an investment portfolio. The others will either be offered for lease–as bank branch locations or other retail uses–or redeveloped “in consideration of their highest and best use, in relation to the market,” according to Hampshire officials. The properties will be folded into two Hampshire private equity funds, Hampshire Partners Find VI LP and the Hampshire Generational Fund LLC.

Jones Lang LaSalle offered the property for sale. Senior vice president Guy Ponticello and vice president Suzanne Martinez, both from JLL’s Chicago office, led the transaction, along with managing director Thomas Benneville from JLL’s New York office. Most of the properties are along the southeastern states. North Carolina has four of the properties; New Jersey, Virginia, Georgia and Mississippi each have three; Maryland, Missouri, South Carolina, Tennessee and Alabama each have two; and Pennsylvania, Illinois, Washington and New Mexico each have one.

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
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.