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 a 75,000-square-foot shopping center located at 142 New York Route 94 in Warwick, N.Y. from Starwood Ceruzzi LLC.
The shopping center spans 20 acres, and is anchored by a LEED Gold Certified 56,000-square-foot Price Chopper, as well as several other tenants including AutoZone, JP Morgan Chase Bank and Mavis Discount Tire. Hampshire plans to construct an additional 9,500-square-foot building that will include tenants such as Subway, Verizon and Dunkin Donuts. The retail center is fully leased, including pre-construction lease commitments to the additional building. Construction on the new building is slated to begin this fall.
“The long-term lease commitments from existing, high caliber tenants as well as the opportunity to expand the center with a full roster of quality tenants already in place made this an attractive investment for us,” said John Goldsmith, Investment Manager for the Hampshire Companies. “Fairgrounds Shopping Center is one of the only new retail developments in the Town of Warwick due to very tough development restrictions. We look forward to owning and operating this center for many years to come.”
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