The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at more than $2.5 billion, announced it has signed a long-term lease with a leading distribution company for the entirety of PortSouth Milik, a 232,000-square-foot industrial building located at 200 Milik Street in Carteret, N.J.
“As the third largest port in the U.S. and the largest on the Eastern Coast, we anticipate a significant increase of activity at The Port of New York and New Jersey, as the expansion of the Panama Canal and the raising of the Bayonne Bridge will accommodate the new, larger New Panamax container ships,” Todd Anderson, Principal for The Hampshire Companies. “Our ability to read and anticipate the market and user needs allowed us to attract a high caliber tenant to a superior facility and location.”
The Hampshire Companies redeveloped the entire site, which was the former home of Pathmark corporate headquarters, into a state-of-the-art industrial logistics center, known as PortSouth Milik. The building is strategically located with easy on and off access to the New Jersey Turnpike at exit 12, minutes from Port Newark/Elizabeth and Newark Liberty Airport.
This accessibility to area ports and highways made PortSouth Milik a desirable logistics center for the tenant. Thomas Monahan of CBRE represented Hampshire in the lease 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