Jones Lang LaSalle

Hampshire Buys 90,000-SF Flex Building
By Eric Peterson
Last updated: January 30, 2006 10:19am

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RAMSEY, NJ-The Hampshire Cos. has acquired the 89,900-sf flex building located at 663 E. Crescent Ave. here. The pick-up was made on behalf of the firm’s Hampshire Partners Fund IV.
As part of the transaction, the full building has been leased back to the seller, Coperian Corp., a compounding equipment and systems manufacturer. The building itself consists of a combination of office, R&D and warehouse space. The sale price was not released.
“This property was attractive because of its location and the ability to structure a long-term lease with the occupying tenant,” says Norman A. Feinstein, executive vice president of the Morristown-based Hampshire Cos., an investment fund management firm. “It fits well within our overall acquisition and investment strategy.” James F. Gunning, senior director, David Sherman, EVP and Nicholas Nemeth, SVP of CB Richard Ellis’ Saddle Brook office represented both the buyer and the seller.