B — February 14 - 27, 2014 — New Jersey — Mid Atlantic Real Estate Journal
N ew J ersey Five transactions totaling 98 units in NY & NJ TheHampshireCompaniesSell 45,313 s/f industrial building
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ACKENSACK, NJ — The Hampshire Companies , a full-
service, private real estate investment firm with equity in assets valued at over $2.5 billion, has announced the sale of a 45,313 s/f industrial build- ing located at 530 Huyler St. in Hackensack. The sale was made to the Park Ave. Motor Corp. Inc., who have occupied the building since 2006. The 45,313 s/f industrial building spans across three and a half acres of land and is conveniently located less than ten miles from New York City. In 2009, the building was fully
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530 Huyler St.
renovated into an automobile service facility that features custom amenities such as ceil- ing heights as high as 16-feet, 4 grade level overhead doors, 47 lifts, a customer lounge and office space. “Since the building was completely renovated to fit the exact needs of Park Avenue
Motor Corp. Inc, they saw this as an excellent opportu- nity to purchase the property which allowed Hampshire to achieve its return objective,” said Igor Derbaremdiker , senior investment manager for The Hampshire Companies. “The property’s location in an established, high-traffic area within the New York metro- politan area has been a proven success to the buyer over its time as a tenant.” Located within minutes of I-95, I-80, Routes 46, 3, and 17 and the George Washington Bridge the facility is ideally situated in Bergen County’s premier industrial market- place. n LONGPORT, NJ — Long & Foster® Real Estate, Inc. announced that it has joined forces with Premier Proper- ties Real Estate, Inc. , a real estate brokerage in Longport. Going forward, Premier Prop- erties Real Estate will oper- ate under the Long & Foster brand at its existing location in Longport. “Like Long & Foster, Pre- mier Properties Real Estate has a long history of success in real estate, and we’re pleased to welcome their team to our family,” said Terry Spahr , re- gional manager of Long & Fos- ter’s Delaware, Eastern Shore and New Jersey region. Currently owned and oper- ated by owners Jerome and Angel DiPentino, Premier Properties Real Estate special- izes in vacation and luxury home sales throughout Atlan- tic County. Its team of almost a dozen licensed real estate professionals has served the Jersey shore for 25 years. Jerome andAngel DiPentino will remain with Long & Fos- ter and continue to list and sell real estate. Jerome DiPentino will remain as broker, work- ing with the Longport office’s new Branch Manager Mike Mavromates , who currently leads Long & Foster’s Avalon, NJ, office as well. n Long & Foster joins Premier Properties RE
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