The Hampshire Companies has closed on the disposition of a six building industrial portfolio totaling 1.2 million square feet in northern New Jersey. Holliday Fenoglio Fowler worked for the vendor in the $146.85 million transaction. The portfolio encompasses 200 Middlesex Avenue in Carteret (408,437 sqf), 39 Robinson Road in Lodi (73,373 sqf), 301 Mayhill Street in Saddle Brook (200,000 sqf), 30 Wesley & Worth in South Hackensack (245,824 sqf), 5 Henderson Drive (210,530 sqf) and 2 Dedrick Place (80,000 sqf) in West Caldwell. The portfolio is currently 96 percent leased to tenants such as Continental Terminals, R.R. Donnelley, FreshPro Food Distributors and Sealed Air.
“Given its access to the Ports and major area highways, northern New Jersey has become a hub for logistics real estate,” said Todd Anderson, Vice President Hampshire Companies. “As e-commerce continues to grow it will fuel demand for logistics real estate…With demand high and product limited now was the right time to execute our investment strategy and sell the portfolio.”
