FLORHAM PARK, NJ – HFF announced today that it has closed the sale of 700 Blair Road, a 234,325-square-foot, single-tenant, light industrial building in Carteret, New Jersey.
HFF marketed the property on behalf of the seller, GP 700 Blair Road, LLC, and procured the buyer, The Hampshire Companies. The purchase price was in excess of $10 million.
700 Blair Road is fully leased to, and functions as the corporate headquarters for Berjé Inc., a global leader and distributor of essential oils and aromatic chemicals with more than 60 years of experience supplying the flavor, fragrance, pharmaceutical and allied trades. The recently renovated property is situated on 12.41 acres close to Interstate 95/NJ Turnpike, Newark Liberty International Airport and Port Elizabeth/Newark.
The HFF team representing the seller was led by managing director Michael Nachamkin along with senior managing director Jose Cruz, managing director Kevin O’Hearn and real estate analyst Marc Duval.
The Hampshire Companies is a full-service, private real estate firm with equity in assets valued at more than $2.5 billion, based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. www.hampshireco.com.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.