The Hampshire Cos acquires 700 Union Boulevard in Totowa, NJ

The Hampshire Cos. has closed on the purchase of 700 Union Boulevard, a life sciences building for approximately $20 million. Located in Totowa, NJ., the 330,000 sqf building consists of cGMP manufacturing and packaging, warehousing, chemical and wet labs and executive offices. The property is located near New York and major transit hubs such as the Newark airport. Jones Lang & LaSalle’s life science team represented the seller P.F. Laboratories Inc., a subsidiary of Purdue PharmaLP.

“P.F. Laboratories tapped JLL to sell 700 Union Boulevard due to our team’s experience in dispositions of life science manufacturing, R&D and large corporate campuses, as well as our integrated team approach combining our life science expertise with the firm’s leading industrial team,” said Peter Ladas, senior vice president, JLL. “The Hampshire Cos. was able to lease the facility to a like-kind user that would find the building’s existing manufacturing equipment and systems infrastructure ideal as the firm expands its business.”