Newmark Arranges Equity Recapitalization of $300M Northern New Jersey Industrial Portfolio

NEW JERSEY — Newmark has arranged the equity recapitalization of a portfolio of 30 industrial buildings totaling approximately 1.4 million square feet in Northern New Jersey. The portfolio is valued at roughly $300 million. The properties are collectively known as the Fairfells Logistics Portfolio and are located in the communities of Fairfield, Little Falls, Elmwood Park and Carteret. Kevin Welsh, Brian Schulz and Jack Fracker of Newmark represented the owner, The Hampshire Cos., in arranging joint venture equity with an undisclosed partner. The portfolio was 92 percent leased at the time of sale.