The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, has announced the disposition of a 7,381-square-foot retail building located at 106 Bluebird Lane in Millville, N.J. which is leased to AutoZone, the nation’s leading auto parts retailer. The sale was made to ARC Properties, Inc.
The Hampshire Companies were able to maximize the value of this property due to its strategic location at the intersection of NJ Route 47 and NJ Route 55. The free-standing building is positioned within a major retail epicenter consisting of over 1.5 million square feet of retail within one mile. The single-tenant property is situated on 1.22 acres and was built in 2007. It is adjacent to a 194,000-square-foot shopping center that is anchored by Lowe’s Home Improvements and Acme Markets.
“106 Bluebird Lane has proved to be a strong asset since we acquired the property in September 2007, thanks to its ideal location and the long-term lease agreement with a strong credit tenant like AutoZone,” said Robert T. Schmitt, a Principal of The Hampshire Companies. “ARC Properties, Inc. was aggressively seeking a property that fit that exact criteria and the deal proved to be an optimal transaction for both parties.”
Chris Bosworth of CB Richard Ellis represented Hampshire in this transaction and SVP Investment Properties represented ARC Properties.
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.
R&J Public Relations