The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, has announced the disposition of a 299,625-square-foot industrial building located at 2-8 Germak Drive in Carteret, N.J. to A.J. Richard & Sons, Inc.
Situated on more than 15 acres, the property is conveniently located in one of New Jersey’s prime distribution markets, offering easy access to the Port of New York/New Jersey, the New Jersey Turnpike, and Newark Liberty International Airport. The Hampshire Companies acquired the property in 2008, fully leasing it to P.C. Richard & Sons, America’s number one family-owned and operated appliance and electronics company.
"A.J. Richard & Sons’ desire to acquire the building came at the perfect time, making this transaction very ideal for us," said Vincent Dougherty, a Senior Investment Manager for The Hampshire Companies. "The building’s superior location and retail / warehouse features continue to be an excellent fit for P.C Richard’s business."
Cassidy Turley represented The Hampshire Companies in the transaction while Studley represented P.C. Richard & Sons 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