MORRISTOWN, NJ – In separate deals, the Hampshire Cos., based here, has acquired two industrial buildings totaling just less than 325,000 sf. Both acquisitions were made on behalf of the firm’s Hampshire Partners Fund VII, a $350-million institutional real estate investment vehicle.

Most of that 325,000-sf total involves Two-Eight Germak Dr., a 299,625-sf W/D complex of four interconnected buildings on more than 15 acres in Carteret, near the Port of Newark/Elizabeth, the New Jersey Turnpike and Newark Liberty International Airport. Tom Monahan of Colliers Houston & Co. represented Hampshire. Carteret Ventures LLC, a local group, was the seller. The sale price was not disclosed.

Simultaneous to the acquisition, Hampshire brought in electronics retailer P.C. Richard & Sons with a full-building lease for W/D use, with Monahan again orchestrating the transaction for undisclosed terms. The complex had previously been occupied to Sea Jet Industries, a trucking firm, and Millwood Inc., a packaging company, both of which had relocated within the region. “We were able to lease the building quickly after acquiring the property,” confirms Norman A. Feinstein, Hampshire’s executive managing director.

In the second acquisition, Hampshire has picked up the 25,000-sf industrial building on four acres at 361-371 South St. in Newark from Polarome International Inc. in a sale-leaseback deal, with Monahan again the broker. The sale price and terms of Polarome’s lease with Hampshire were similarly not disclosed.

“The building’s location and our ability to secure a lease from the seller made this an attractive investment for our fund,” Feinstein says.

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