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The Hampshire Companies Announce Full Occupancy At 1515 Broad Street in Bloomfield, N.J.

Two Existing Tenants Expand Into Additional 37,560 Square Feet
Bloomfield, N.J.

The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, has announced that ITT Space Systems and New Jersey Urology, LLC have leased additional space in the four-building, 280,082-square-foot office complex located at 1515 Broad Street in Bloomfield, N.J. The transactions bring the property to 100% occupancy.

ITT Space Systems, a provider of innovative remote sensing and navigation solutions to customers in the Department of Defense, as well as the intelligence, space science and commercial aerospace industries, has expanded its original 24,484-square-foot office by an additional 30,983 square feet. The company is now the sole occupant of Building D with more than 55,000 square feet of leased space. New Jersey Urology, LLC, the largest urology group in New Jersey which specializes in minimally invasive treatments for prostate cancer, has also expanded its original 17,439-square-foot facility by 6,577 square feet, bringing Building B and the entire complex to full occupancy.

Since acquiring the building in December 2003, The Hampshire Companies have transformed 1515 Broad Street into a headquarters quality, premier Class-A office complex. Completed renovations and upgrades include taking the buildings down to their steel and rebuilding each to incorporate all-new, energy efficient facades and roofs, as well as architectural enhancements that improve the workflow between buildings. A fitness center, cafeteria, new elevators, resurfaced parking lot, updated bathrooms, and energy efficient features enhance the upgraded interiors of the complex. The office campus offers prime visibility and easy access to major highways including The Garden State Parkway, Route 3, I-80 and I-280. Other major tenants include Lummus Technology and Montclair State University.

“While office space vacancies are still high across the state, Hampshire prides itself on building strong tenant relationships and having the resources and the vision to anticipate tenants’ needs in today’s market place,” said Todd Anderson, a Principal of The Hampshire Companies. “Reaching full occupancy with lease expansions from current tenants is a testament to Hampshire’s ability to provide superior service and Class-A space that exceeds the standards of today’s leading businesses.”

“As a Hampshire tenant, we certainly recognize how Hampshire’s great property locations, well-maintained facilities and dependability as a landlord has contributed to the success of our growing practice,” said Victor Houtz, Chief Operating Officer of New Jersey Urology, LLC. “We signed our original lease with Hampshire two years ago for the property at 1515 Broad Street and based on our positive experience we opened our second site of clinical excellence at another Hampshire property which is located at Park 80 in Saddle Brook, N.J. The Hampshire Companies have always been able to accommodate us as we have grown into a state-of-the-art practice of highly-skilled doctors that are experienced in performing some of the most advanced surgical procedures.”

Sean Brady of Cushman & Wakefield represented ITT Space Systems and John Cunningham of First Service Williams represented New Jersey Urology. Bill McCaffrey of CB Richard Ellis represented The Hampshire Companies in both transactions.

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.

Tiffany Miller
R&J Public Relations