The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2 billion, in a joint venture with Tulfra Realty Company, LLC have announced the acquisition of a 51,000-square-foot industrial building located at 705 Central Avenue in New Providence, N.J., from the Borough of New Providence.
Situated on more than two acres, the building offers easy access to major area highways including I-78 and Route 22. Upon acquisition, the property was 62 percent leased with 19,675 square feet available.
“New Providence is one of New Jersey’s premier suburban marketplaces,” said Norman A. Feinstein, Executive Managing Director of The Hampshire Companies. “This property will be an excellent addition to our portfolio and expand our presence within Union County.”
In addition to this acquisition, The Hampshire Companies acquired 691 Central Avenue in late 2007. The 47,150-square-foot building is currently being transformed from industrial space to Class A headquarters-quality office space.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at HampshireRE.com.
About Tulfra Realty Company, LLC
Based in Rochelle Park, N.J., Tulfra Realty Company, LLC is a leading real estate management and developer of industrial buildings, land and industrial condominiums. Tulfra’s current portfolio consists of over 4 million square feet in more than 50 buildings with a tenant base of 100 private and public companies.
R&J Public Relations