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TETERBORO, NJ-The Hampshire Cos. has hired NAI James E. Hanson to find tenants for its latest acquisition, the 108,400-sf industrial building at 200 North St. here. The asset, which sits on a six-acre site near Teterboro Airport, includes a 22,000-sf office component. The marketing effort is being led by Andrew Somple, SVP of the Hackensack, NJ-based Hanson firm, assisted by sales associates Thomas Vetter and Jeffrey DeMagistris.

As reported by GlobeSt.com, the Morristown, NJ-based Hampshire bought the building in August on behalf of its Hampshire Partners Fund VI for an undisclosed price. That deal was orchestrated for Hampshire by Somple. The seller was Party Rental Ltd., a supplier of special events items and equipment, which is in the process of relocating its headquarters, showroom and warehouse to another nearby location.

The acquisition and vacancy is launching a makeover of the building to prepare it for re-occupancy, a project that involves raising the 14-foot ceiling heights of the warehouse portion to 36 feet, according to Hampshire EVP Norman Feinstein. The rest of the property will get a general overhaul.

“There is a strong demand for industrial buildings that include office space, and we’re confident that upon its availability, this January 1, 2007, this building will lease quickly,” Somple says. “Industrial vacancy rates in Bergen County are well under 7%, indicating the strength of the market. This building will draw a great amount of attention.”

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