The Hampshire Companies has purchased a 133,000-square-foot industrial building in Fair Lawn, N.J., on behalf of Hampshire Partners Fund VII, the company’s recently launched $350 million institutional real estate investment fund.

The value of the transaction was not disclosed.

The building, located at 17-09 Zink Place in Fair Lawn, features 24-foot ceilings, eight tailgate bays and ample parking. The building is situated near Route 4.

Hampshire said it intends to reposition the building to bring it up to modern standards for multi-tenant use. Scheduled improvements include new windows, roof, facade, and parking lot.

In addition, Hampshire recently inked a lease agreement with Anything IT for 17,000 square feet at the property.

The Hampshire Companies is a full-service, private real estate investment fund manager based in Morristown, N.J.

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