The Hampshire Companies, a full-service, private real estate investment firm with equity in assets valued at over $2.5 billion, announces the sale of a 13,100-square-foot mixed-use property located at 502 Route 46 West in Teterboro, New Jersey. The retail and office space was sold to Marcus Fair Lawn Associates.
“The property has reputable, long-standing tenants and is in a prime location within the heart of Bergen County, providing the investor with a proven, stabilized cash flow and steady annual yields,” said Igor Derbaremdiker, a Senior Investment Manager for The Hampshire Companies. “The Hampshire Companies was able to capitalize on the opportunity to sell the asset because of the investment-grade quality tenants in place.”
The 13,100-square-foot property is situated on Route 46 West, one of the highest traveled roadways in New Jersey, across from the Teterboro Airport, one of the busiest private airports in the United States. The property offers easy access to area highways including Route 80, the New Jersey Turnpike, and the Garden State Parkway. An adjacent 60-acre parcel is currently being redeveloped into a retail center that will boast national tenants.
NAI James E. Hanson represented The Hampshire Companies 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