The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, announced that Sportika Export Inc. has signed a long term-lease for 53,360 square feet of industrial space at 83 White Oak Drive in Berlin, Conn. The transaction marks the second largest lease deal in the Hartford Industrial Market in 2010.
Sportika Export Inc. is the single largest, exclusive export distributor of Sports Nutrition in the United States with a multi-national network of international distributors in over 130 countries. This worldwide distributor will use the single tenant industrial building as a warehouse, distribution center and office.
Situated on 3.91 acres, 83 White Oak Drive is a single-story, industrial facility which was originally built in 1995 with an additional 20,000 square feet of space added in 2002. The property features four loading docks, one drive in door and approximately 11,586 square feet of finished office space on two floors with elevator access. The building is located in the White Oak Industrial Park of Berlin and offers quick access to Interstate 91 and 84 via Route 9.
“With the mid-2010 vacancy rate exceeding 17%, it has been a difficult year for the Greater Hartford Industrial market and this deal represents one of the largest lease transactions in this market in 2010,” said Pat Krasowski, an Investment Manager of The Hampshire Companies. “At Hampshire, we are committed to providing quality industrial space in premiere locations and this deal is certainly a testament to that commitment and our unique ability to defy market conditions and secure high-caliber tenants.”
“The strategic location and the highly finished two-story office component made the property the ideal site for our growing business,” said Barry J. Griffing, President and CFO for Sportika Export Inc. “The White Oak Industrial Park has become a desirable location for a wide range of national and international companies which also made it a great fit for Sportika Export Inc. Hampshire has an excellent reputation as a property manager and we look forward to a positive, long-term relationship.”
Timothy J. D’Addabbo of Cushman & Wakefield represented Hampshire in the transaction.
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