LINDEN, NJ-The Hampshire Cos. has acquired the 116,000-sf industrial building at 1050 Edwards St. here, buying the asset from locally based E&M Equities. The pick-up was made on behalf of the firm’s $350-million Hampshire Partners Fund VII. The deal was brokered by Hal Messer of NAI James E. Hanson, Hackensack; the sale price was not disclosed.

“The building’s location makes it an excellent investment vehicle for our fund,” says Norman Feinstein, executive managing director of the Morristown-based Hampshire. “Its proximity to the ports and airport makes it a great space for a variety of industrial warehouse tenants.”

Located on 4.1 acres, the property has access to routes 1 and 9, the NJ Turnpike and Garden State Parkway. It also has proximity to the ports of Newark and Elizabeth and Newark Liberty International Airport.

And it has upside potential. While Tyco division AFC Cable Systems had still been in a portion of the building as its major tenant until very recently, 1050 Edwards St. effectively became vacant and on the market for lease this week, according to a Hampshire spokesperson.

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