Morristown, New Jersey (Nasdaq) 30 November 2005
Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued over $ 1, billion, today announced the acquisition of 2.05 acres at 1000 Park Avenue, Bridgeport, Connecticut. The property is currently developed as a 14 419 square meters Walgreen’s pharmacy, in a joint venture between the generations Fund and Land Bank Partner Hampshire Stratford, CT. The site includes additional land available for future development of retail space.
The property was acquired Allocate Fairfield West Park, LLC controls, by Hampshire Generations Fund, a confused, the real added value of discretionary real estate investment trust of corporations Hampshire.
This property represents the second major acquisition by the Hampshire company in the growing field of Bridgeport. The company’s landmark, the Royal Bank of Scotland, a 11-story, 214,444 square feet Class A office building at 1000 Lafayette Boulevard, was acquired in October of this year.
“We firmly believe that the City of Bridgeport has tremendous growth potential and offers incredible value for tenants and investors,” said Norman A. Feinstein, Executive Vice President of The Hampshire company. “This second purchase Bridgeport reaffirms our commitment to being a part of the rebirth and renewal of the city. We will continue to additional acquisitions in and around the city of Bridgeport to our growing portfolio add to search.”
The property, located in downtown Bridgeport, sits on 2.05 acres near I-95. Hampshire has negotiated a long-term lease with Walgreen’s, the largest drugstore chain in the U.S. and the ninth-largest retailer in the nation. The building is completed and the Walgreen store opened in spring 2006.
Hampshire Generations Fund, LLC is a mixed, discretionary value-added Real Estate Investment Trust. The Fund seeks to offer the goal of higher returns than the market for its investors through the acquisition and operation of industrial, commercial and office, and an investor in other real estate funds.
Hampshire company is a full service, private real estate investment fund manager in Morristown, New Jersey. The Hampshire Company is a dynamic organization, the creative vision and superior execution combined, thereby to make it and increase the value of real estate investments to better than the market. Additional information about the company’s Hampshire and its funds is available online at www.hampshireco.com.
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