The Hampshire Cos. has acquired a 59,100 s/f medical/office building and a 21,000 s/f retail building both located at 3250 Westchester Ave. from Pelbay Associates, Inc. The acquisition was made on behalf of Hampshire Partners Fund VII, Hampshire's $350 million institutional real estate investment fund.
Located close to the New York City subway, the property is fully leased and is home to tenants such as Dunkin' Donuts, Baskin Robbins, Subway and CVS/Pharmacy. Medical tenants include Doschi Diagnostic, a multi-modality imaging center and radiological service provider and SurgiCare Ambulatory Surgery Center of N.Y., a ambulatory surgery center.
"This acquisition allows us to expand our presence in both the medical and retail markets in an excellent demographic area," said Norman Feinstein, executive managing director of The Hampshire Cos. "In addition, this transaction provides significant growth potential for additional development opportunities." Tags: