Hampshire Companies buys $100M NJ industrial portfolio

New Jersey-based real estate investor Hampshire Companies has acquired a nearly million-square-foot industrial portfolio in their home state from industrial landlord Prologis. Experts say the 28-building package is worth about $100 million.

“The portfolio’s high occupancy and tenant retention record speaks to its functionality and desirability within the local market,” Gary Gabriel, a member of the Cushman & Wakefield Capital Markets team that brokered the deal, said in a statement to Real Estate Weekly.

Sign Up for the undefined Newsletter

Gabriel – who represented Prologis along with colleagues Andrew Merin, David Bernhaut, Brian Whitmer and Kyle Schmidt — added that more than 150 investors had expressed interest in the properties, which are scattered around several submarkets in the state.

According to Real Estate Weekly, 26 of the 28 buildings are located in the town of Fairfield, while two are situated on adjacent parcels in the town of Little Falls. [REW] – Hiten Samtani