Newmark Group acted as a strategic advisor to The Hampshire Companies in the successful $300 million recapitalization of The Fairfalls Logistics Portfolio, located in Northern New Jersey. Additionally, Newmark helped secure a joint venture equity partner for the transaction. This deal was led by Kevin Welsh, Executive Managing Director at Newmark, along with Jack Fraker (Global Head of Industrial and Logistics) and Brian Schulz (Managing Director).
The portfolio consists of 30 buildings totaling 1.35 million square feet of light industrial space and is currently 92% leased. It has a strong presence in Fairfield with easy 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 stated that he is proud that his team was able to secure this partnership on behalf of Hampshire for their expansive industrial portfolio after working closely with them for over ten years. He believes that this new partnership will bring immediate value through rental increases while also driving long-term capital appreciation by improving the market position of the entire portfolio.
Pictured above: One building from within The Fairfalls Logistics Portfolio – located at 39 Plymouth St., Fairfield NJ.
