The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2.5 billion, has announced the acquisition of 700 Blair Road in Carteret, N.J., a 234,325 -square-foot single-tenant, light industrial building that is fully-leased to Berjé, Inc. as its corporate headquarters. The property was acquired from GP 700 Blair Road, LLC, and the transaction was brokered on behalf of the seller by HFF of Florham Park, N.J.
Spanning more than 12 acres, the custom-designed warehouse and office complex is ideally located within the thriving industrial hub that serves the Port of Newark and Elizabeth along the New Jersey Turnpike. The free-standing light industrial building has recently undergone a full renovation and currently serves as the corporate headquarters and United States distribution hub of Berjé Inc., a global distributor of essential oils and aromatic chemicals with over 60 years of experience supplying the flavor, fragrance, pharmaceutical and allied trades.
“As the third largest port in the U.S. and the largest on the East Coast, The Port of New York and New Jersey will certainly see an increase in activity upon completion of the Bayonne Bridge raising project, said Rob Schmitt, Fund Manager for The Hampshire Companies. “In addition to the quality location, the size of this building, the quality of the tenant and the superior functionality of the warehouse space made this acquisition a great fit within our expanding industrial portfolio.”
Located within Carteret’s established industrial sub-market, 700 Blair Road offers easy access to the New Jersey Turnpike and I-278, with superior proximity to Newark International Airport and the Port of Newark and Elizabeth. The building features corporate-quality office space in the front, in addition to its exceptional warehouse features that include high clear ceiling heights, large bays, several independently-controlled climate zones, and numerous loading docks.
The HFF team representing the seller was led by managing director Michael Nachamkin along with senior managing director Jose Cruz, managing director, Kevin O’Hearn and real estate analyst Marc Duval.
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