Continuing on its industrial buying streak, The Hampshire Companies has acquired two industrial properties in New Jersey totaling 202,599 square feet.
The deals included the acquisition of a 122,599-square-foot industrial building in Springfield, New Jersey, and an 80,000-square-foot industrial property in West Caldwell, New Jersey.
The Springfield property was acquired from RFB Realty for an undisclosed sum. The deal was made through the Morristown, New Jersey-based firm’s $350 million Hampshire Partners Fund VII. The vehicle targets the acquisition, repositioning and operation of properties, with a focus on industrial, retail and suburban office properties in the Northeast and Mid-Atlantic US.
At the same time, Hampshire picked up an 80,000-square-foot industrial building in West Caldwell, New Jersey. The property, acquired from SME Co., sits on five acres, located within the West Essex Industrial Park. The park includes tenants such as Toyota and 3M. The building is fully leased to RLB Food Distributors.
The West Caldwell industrial deal was made through the firm’s Hampshire Generational Fund, which is targeted to high net-worth investors.
Hampshire has been busy acquiring properties in the New Jersey industrial market. In August, the firm acquired a 299,625-square-foot industrial building in Carteret, New Jersey. The deal was made through its Hampshire Partners Fund VII. In June, it picked up 661 climate-controlled self-storage units in Berkley Heights, New Jersey, comprising 51,171 square feet of rentable space.