Industrial News

“When we acquired these seven properties in August of 2005, our goal was to enhance their value in the market through a well-orchestrated repositioning campaign that focused on more than simply modernizing and upgrading the properties’ appearances,” said Norman A. Feinstein, Executive Vice President of The Hampshire Companies. “To assist us in accomplishing this ambitious program, we contracted the services of Moore Horizons, a company that specializes in real estate strategies that increase market presence, ignite leasing activity, and enhance tenant retention and loyalty. Working with Moore Horizons and our exclusive broker, CB Richard Ellis, we are confident that the repositioning of these properties will yield significant added value for our investors and for our present and future tenant base.”

Moore Horizons provided Hampshire with strategic counsel and recommended a tactical positioning plan that is currently being implemented across the seven-building portfolio. “Tenants in this particular submarket have a variety of options and choices for office, industrial and R&D space,” notes Chuck Moore, founding principal and creative force behind Moore Horizons. “Our goal is to properly position the significant ownership, management and physical advantages of these properties so that they are viewed as the premium commercial real estate offering for prospective and current tenants within this competitive submarket.”

At the advice of Moore Horizons, Hampshire is presently converting part of the existing portfolio into additional R&D and warehouse space to meet the needs of tenants in the market. It is a strategy that Feinstein believes will not only prove attractive to prospective tenants, but will also add considerable value for current tenants, increasing their overall flexibility while meeting their present and future real estate demands.

The Hampshire Piscataway Portfolio consists of 214,605 square feet of office, 91,320 square feet of industrial and 71,662 square feet of R&D space, totaling 377,587 square feet on over 46 acres strategically located near I-287 and the New Jersey Turnpike in Middlesex County, New Jersey. The seven properties, located at 275 Centennial Road, 240 Centennial Road, 140 Centennial Road, 10 Knightsbridge Road, 81 Kingsbridge Road, 80 Kingsbridge Road and 20 Kingsbridge Road, are substantially leased with plans for major capital improvements including exterior upgrades, roof replacements, substantial landscaping, HVAC and building system upgrades, and possible building expansions in the future. Current tenants that lead a prestigious tenant base include Cablevision, Rutgers R & D, Enzon and others.

“We are thrilled to be a part of the growing community of Piscataway, where it is our goal to provide best-of-class office, R&D and warehouse space that will more than meet the needs of current and future tenants,” said Feinstein. “With our planned upgrades and expansion, as well as the superior management service that is a hallmark of all of our assets, these premier properties represent an extraordinary value for the Township of Piscataway, our tenants and our investors.”

“As a company, we will continue to seek opportunistic real estate investments in core, desirable markets and to work with a professional team to increase our competitiveness in the marketplace and to deliver above market returns for our investors,” added Feinstein. “Bringing in Moore Horizons, a nationally-known and respected firm that consults on some of the most highly visible real estate properties in the nation, should bolster these properties and provide a win-win situation for our both our tenants and our investors.”

Hampshire Partners Fund VI is a commingled, discretionary value-added real estate investment fund managed by Hampshire. The goal of Hampshire Partners Fund VI is to deliver superior, above-market returns to its investors through the acquisition, repositioning and operation of investment-grade properties. The focus of investment for this value-add fund is on industrial, retail and suburban office product located in the growth corridors of the Northeast and Mid-Atlantic. The Fund is currently very active in seeking additional acquisitions throughout its targeted markets.

The Hampshire Companies is a full-service, private real estate investment fund manager 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 in order to consistently outperform the market. Additional information on The Hampshire Companies and its funds is available online at www.hampshireco.com.