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MORRISTOWN, NJ-The Hampshire Cos., locally based, has added five properties totaling approximately 180,000 sf to its portfolio. The multiple acquisitions were made on behalf of two different funds managed by Hampshire, and the sale prices were not disclosed.

Much of that 180,000-sf total consists of 490 Huyler St., a 107,730-sf industrial building on five acres in South Hackensack, NJ, acquired from Huyler Realty LLC on behalf of Hampshire Partners Fund VII, Hampshire’s $350-million institutional real estate investment fund. Hampshire was represented by Stuart Alpert of Keller Realty.

“This property fits right into our fund’s value-add strategy,” says Todd Anderson, Hampshire’s senior investment manager. “We’re looking to implement a capital improvement program at the building, which will allow us to maximize the return to our investors.”

In a second New Jersey industrial pick-up on behalf of the same fund, Hampshire teamed with the Rochelle Park, NJ-based Tulfra Realty Co. to buy the 51,000-sf building at 705 Central in New Providence. The seller of the surplus, two-acre property was the Borough of New Providence. Hampshire had previously, in 2007, acquired the 47,150-sf 691 Central Ave. in New Providence and is currently turning the industrial space into class A office.

Finally, on behalf of its Hampshire Generational Fund tailored to high net-worth individuals, the company has acquired three freestanding, single-tenant retail buildings averaging 6,700 sf each in Jackson, Plainwell and Paw Paw, MI. The buildings, sold by a western Michigan investor group, are all leased to Advance Auto Parts.

“The long-term lease agreements at all three properties provide us with stable cash flow,” says Hampshire senior managing director Robert Schmitt. “We’re continuing to actively seek properties for our fund portfolio.”

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