Jones Lang LaSalle
Hampshire Partners Fund Buys 89,000-Sq.-Ft. Building in Ramsey
The Hampshire Companies, a privately held real-state investment fund manager in Morristown, today announced the purchase of an 89,900 sq. ft. building in Ramsey for an undisclosed sum. The acquisition was made on behalf of Hampshire Partners Fund VI, which is actively seeking acquisitions throughout its target markets in the North East and Mid-Atlantic regions.
The Crescent Avenue property is a fully leased office, R&D and warehouse facility situated on some 11.78 acres in Bergen County, near Route 17 and I-287, with easy access to the Garden State Parkway. The property was purchased from and leased back to Coperian Corp., a global compounding-equipment and systems manufacturer. "The 663 East Crescent Avenue property fits extremely well within our overall acquisition and investment strategy, which is to actively seek out well-located facilities that are attractive to, or currently under lease to, investment-grade tenants, and add value so that our investors realize above market returns," said Norman A.
Feinstein, executive vice president of The Hampshire Companies. The company reports holding assets of more than $1.0 billion. - Ki Kim ADP Names New CEOGary C. Butler, 59, will become the new CEO of ADP (NYSE: ADP), a Roseland-based transaction processing firm, effective August 31. Butler will take over for current chairman and CEO Arthur F. Weinbach when he retires at the end of the summer. Weinbach, who has been with ADP for more than 25 years, will remain the non-executive chairman of the board. Butler also has a long tenure with the company, having joined ADP in 1975. In 1983, he became the company’s corporate vice president. Butler then joined ADP’s board in 1996 and became president and chief operating officer, the role he currently serves, in 1998. ADP stock fell $0.19 to $44.58 in afternoon trading.
- Brian Quinlan
Hampshire Partners Fund Buys 89,000-Sq.-Ft. Building in Ramsey
The Hampshire Companies, a privately held real-state investment fund manager in Morristown, today announced the purchase of an 89,900 sq. ft. building in Ramsey for an undisclosed sum. The acquisition was made on behalf of Hampshire Partners Fund VI, which is actively seeking acquisitions throughout its target markets in the North East and Mid-Atlantic regions.
The Crescent Avenue property is a fully leased office, R&D and warehouse facility situated on some 11.78 acres in Bergen County, near Route 17 and I-287, with easy access to the Garden State Parkway. The property was purchased from and leased back to Coperian Corp., a global compounding-equipment and systems manufacturer. "The 663 East Crescent Avenue property fits extremely well within our overall acquisition and investment strategy, which is to actively seek out well-located facilities that are attractive to, or currently under lease to, investment-grade tenants, and add value so that our investors realize above market returns," said Norman A.
Feinstein, executive vice president of The Hampshire Companies. The company reports holding assets of more than $1.0 billion. - Ki Kim ADP Names New CEOGary C. Butler, 59, will become the new CEO of ADP (NYSE: ADP), a Roseland-based transaction processing firm, effective August 31. Butler will take over for current chairman and CEO Arthur F. Weinbach when he retires at the end of the summer. Weinbach, who has been with ADP for more than 25 years, will remain the non-executive chairman of the board. Butler also has a long tenure with the company, having joined ADP in 1975. In 1983, he became the company’s corporate vice president. Butler then joined ADP’s board in 1996 and became president and chief operating officer, the role he currently serves, in 1998. ADP stock fell $0.19 to $44.58 in afternoon trading.
- Brian Quinlan
posted by Jones Lang LaSalle NJ News Blog at 11:11 AM
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