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The Hampshire Companies Close 2010 with Major Office Disposition in Parsippany, N.J.

Parsippany, N.J.

The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2 billion, along with its joint venture partners Mack-Cali Realty Corporation and institutional investors advised by J.P. Morgan Asset Management, has announced the sale of a 175,000-square-foot, state-of-the-art office building located at 100 Kimball Drive in Parsippany, N.J. The buyer was CB Richard Ellis Realty Trust.

100 Kimball is a five-story office building situated in a 90-acre headquarters-quality campus. The property is fully leased to Deloitte LLP, a leading accounting firm, through July 2020. The Class-A building was built in 2007 and is located at the intersection of Interstates 80 and 287 which provides convenient access to points throughout Northern and Central New Jersey. The granite and smoked glass building is within the Centre of Morris County office park, a four-building corporate campus.

“100 Kimball Drive has been a prime asset for us and our joint venture partners since we jointly developed the building on spec in 2007,” said Robert T. Schmitt, a Principal of The Hampshire Companies. “The property’s high-end image, prime location and the long-term lease with a strong credit tenant made it an attractive addition to CBRE’s portfolio.”

Adam Spies of Eastdil Realty Inc. represented The Hampshire Companies, Mack-Cali Realty Corporation and J.P. Morgan 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.

Tiffany Miller
R&J Public Relations