Newmark Group acted as a strategic advisor to The Hampshire Companies in the successful recapitalization of The Fairfalls Logistics Portfolio, located in Northern New Jersey. Through the expertise and guidance of executive managing director Kevin Welsh, global head of industrial and logistics Jack Fraker, and managing director Brian Schulz, Newmark was able to secure a joint venture equity partner for this $300-million transaction.
The portfolio consists of 30 buildings totaling 1.35 million square feet of light industrial space. It is currently 92% leased with a strong presence in Fairfield that provides direct access to major highways such as I-80 and U.S. Route 46. Other locations within the portfolio include Little Falls, Elmwood Park, and Carteret.
Welsh expressed pride in his team’s ability to secure this partnership on behalf of Hampshire Companies for their expansive industrial portfolio: “The new partnership will not only allow for near-term value through rental increases but also long-term capital appreciation by enhancing the market position.”
Pictured above is one building from the portfolio located at 39 Plymouth St., Fairfield NJ.
