The Hampshire Companies acquires 92,493 s/f Town Crossing Shopping Center

The Hampshire Companies has acquired Town Crossing Shopping Center, a 92,493-s/f retail center located at 2703 Mount Holly Road from J.S. Hovnanian & Sons, LLC. The shopping center is currently 100 percent occupied and boasts a tenant lineup that includes Office Max, Dick's Sporting Goods, TGI Fridays, IHOP, Burger King, Sleepys, and ATT Wireless . The property is shadow anchored by Kohls , Home Depot, and Target, and is strategically located in close proximity to the New Jersey Turnpike and Interstate 295. "The strong lineup of national, industry leading tenants at this property, its consistent history of occupancy, and long term in-place leases, made this an attractive investment," said John Goldsmith, an asset manager at The Hampshire Companies. "Hampshire has extensive experience within the Burlington County submarket, and the center's long-term stability makes the property an excellent addition to Hampshire's retail portfolio." Brad Nathanson of Marcus & Millichap represented both Hampshire and the seller in the transaction. Morristown, NJ The Hampshire Companies completed the sale of a 5,000 s/f office building located at 10 Dehart Street. The sale was made to WCGP, LLC. The three-story office building features a finished basement and was formerly a historical home that was relocated to its current site. Hampshire completely remodeled the interior, transforming the building into a full modern office facility which offers easy access to Interstate 287 and Routes 202 and 24. Additionally, the office building is within walking distance to Morristown's downtown area that features a variety of local restaurants and shops. "The property's great location made this an attractive investment for the buyer," said Ray Ayers, an investment manager for The Hampshire Companies. Ray Ayers represented The Hampshire Companies in the transaction. The buyer was represented by Jim Schroeder of Jones Lang Lasalle.