The Hampshire Cos. Sells Industrial Portfolio in Northern New Jersey for $146.8M
Located in Northern New Jersey, the six-building, 1.2 million-square-foot industrial portfolio sold for $146.8 million.
CARTERET, LODI, SADDLE BROOK, SOUTH HACKENSACK AND WEST CALDWELL, N.J. — The Hampshire Cos. has completed the sale of a six-building industrial portfolio totaling 1.2 million square feet in Northern New Jersey. An undisclosed buyer acquired the portfolio for $146.8 million. The portfolio comprises 200 Middlesex Avenue in Carteret (408,437 square feet); 39 Robinson Road in Lodi (73,373 square feet); 301 Mayhill Street in Saddle Brook (200,000 square feet); 30 Wesley & Worth in South Hackensack (245,824 square feet); and 5 Henderson Drive (210,530 square feet) and 2 Dedrick Place (80,000 square feet) in West Caldwell. At the time of sale, the stabilized portfolio was 96 percent leased to a variety of tenants, including Continental Terminals, R.R. Donnelley, FreshPro Food Distributors and Sealed Air. Joe Thornton Jr., Jon Mikula, Jose Cruz, David Giancola and Robert Borny of HFF represented the seller in the transaction.