FLORHAM PARK, NJ – HFF announced today that it has closed the sale of 200 Milik Street (top left photo), a two-story, 148,399-square-foot office building in Carteret, New Jersey.
HFF marketed the property on behalf of the seller, Cofinance, Inc. The Hampshire Companies purchased 200 Milik Street for $5.85 million free and clear of debt.
200 Milik Street was originally constructed in 1981 as the headquarters for Pathmark Stores, Inc. and was expanded in 1987 to its current size.
The property features a full-service cafeteria and parking for 655 vehicles. Situated on 12 acres, 200 Milik Street is accessible via Exit 12 of the New Jersey Turnpike and is close to Interstates 287, 78 and 278 in northern New Jersey.
The HFF team representing Cofinance, Inc. included senior managing directors Jose Cruz (top right photo), Andrew Scandalios (middle left photo), managing director Michael Nachamkin and directors Kevin O’Hearn and Jeffrey Julien.
“200 Milik Street was developed to headquarters-quality standards and has highly divisible floorplates ideal for either single or multi-tenancy layout, which should appeal to a broad range of tenants when the new buyers seek to lease-up the vacant property,” said Cruz.
Cofinance Inc. is the United States subsidiary of Cofinance Group, a French-owned real estate investment company.
The Hampshire Companies is a full-service, private real estate firm with equity in assets valued at more than $2 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.
Contacts:
Jose R. Cruz, HFF Senior Managing Director, (973) 549-2000, http://www.blogger.com/jcruz@hfflp.com
Andrew G. Scandalios, HFF Senior Managing Director, (212) 245-2425 ascandalios@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500
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