Hampshire Cos. expands in New Jersey

Buys 7-property portfolio

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The Hampshire Cos. acquired seven buildings comprised of mixed uses in Piscataway, N.J. The buildings consist 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 more than 46 acres. The acquisition, valued at approximately $29.8 million, was made through Hampshire Partners Fund VI, a commingled, discretionary value-added real estate investment fund managed by Hampshire. The seller was Blumenfield Development Group. 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 partially 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 include Cablevision, Rutgers R & D and Enzon. The Hampshire C...