Thank you for sharing!

Your article was successfully shared with the contacts you provided.

MAPLE SHADE, NJ-The 66,750-sf retail building located at 590 Route 38 E., here, has been sold by the Hampshire Cos., based in Morristown. The sale was made on behalf of the Hampshire Generational Fund, one of the firm’s private equity funds. The buyer was an investor group, and the sale price was not released.

At the time of sale, the two-story building was occupied by a unit of Mealey’s Furniture, a family-operated chain based in Bensalem, PA that operates several outlets in Southern New Jersey and southeastern Pennsylvania. And the tenant will continue to occupy the building and its 10-acre site under the terms of a recent five-year lease extension.

“We were able to negotiate the five-year deal with Mealey’s Furniture prior to the sale transaction, allowing us to optimize the property’s value prior to the disposition,” says Norman Feinstein, executive managing director of the Hampshire Cos. “This transaction reflects, I believe, our ability to rapidly make strategic decisions for our investors.”

The Hampshire Generational Fund, for which the sale was made, is one of the firm’s private equity real estate investment funds that is tailored to high net worth investors. The combined value of the various funds managed by Hampshire is currently in the $1.5-billion range.

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.