Hampshire bought the property with Chubb still occupying abouthalf of the building with a lease through early 2007. But Chubbwill be out before then, according to Norman Feinstein, Hampshire'sEVP, allowing the renovation to kick-off.

What Hampshire expects to emerge from the makeover is a class Aheadquarters building. "When we acquired the property, we knew thatits primary attribute was its location," Feinstein says, notingthat location is just off Interstate 287. "With merely somecosmetic changes, this building would be a winner for ourinvestors.

"But our aspiration for this property is focused on more thanjust modernizing and upgrading its appearance," he continues. "Weview this as one of the few remaining opportunities in Northern NewJersey for a corporation looking for approximately 100,000 sf ofheadquarters-quality space."