{"id":1004194311,"date":"2017-10-19T04:32:41","date_gmt":"2017-10-19T12:32:41","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004194311"},"modified":"2018-08-08T08:01:09","modified_gmt":"2018-08-08T16:01:09","slug":"nj-industrial-buy-is-devli-groups-latest","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nj-industrial-buy-is-devli-groups-latest\/","title":{"rendered":"NJ Industrial Buy is Devli Group&#8217;s Latest"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004194369\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hackettstown-Commerce-Park1.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004194369\" data-attachment-id=\"1004194369\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/nj-industrial-buy-is-devli-groups-latest\/hackettstown-commerce-park-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hackettstown-Commerce-Park1-e1508416276315.jpg\" data-orig-size=\"431,324\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Hackettstown Commerce Park\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Hackettstown Commerce Park&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hackettstown-Commerce-Park1-e1508416276315.jpg?w=431\" class=\"wp-image-1004194369 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hackettstown-Commerce-Park1-e1508416276315.jpg\" alt=\"Hackettstown Commerce Park\" width=\"300\" height=\"226\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hackettstown-Commerce-Park1-e1508416276315.jpg 431w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/10\/Hackettstown-Commerce-Park1-e1508416276315.jpg?resize=300,226 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004194369\" class=\"wp-caption-text\">Hackettstown Commerce Park<\/p><\/div>\n<p>The Devli Group has acquired Hackettstown Commerce Park, a three-building, 197,438-square-foot flex industrial campus in Hackettstown, N.J. from The Hampshire Companies. Cushman &amp; Wakefield represented the seller in the transaction.<\/p>\n<p>Located at 101 and 103 Bilby Road, and 715 Willow Grove St., the complex also includes 2.74 acres of developable land at 717 Willow Grove St. and 5.13 acres of developable land at 713 Willow Grove St.<\/p>\n<p>Hackettstown Commerce Park was 88 percent leased at the time of the sale, and included a tenant roster consisting of the United States Department of Agriculture, Andrex, Rollon, Computer Wholesalers, Inc., Rotarex and On-Demand Technology Solutions. The complex offers flex units of anywhere from 2,600-30,000 square feet with 24&#8242;-25&#8242; clear ceilings and ample parking.<\/p>\n<h2>Location Advantage<\/h2>\n<p>The property offers easy access to Route 46 and Interstate 80, the second-longest interstate highway in the nation and is close by Hackettstown Medical Center, Mars Chocolate\u2019s North American headquarters, the International Trade Center and Picatinny Arsenal.<\/p>\n<p><em>\u201cNew Jersey\u2019s north west industrial market is becoming an attractive location for investors seeking opportunities to acquire stable and income-generating properties with lower barriers to entry compared to markets to the east,\u201d <\/em>Igor Derbaremdiker, The Hampshire Companies\u2019 director of dispositions, said in a prepared release. <em>\u201cUpon our recent stabilization of this asset, we recognized that market demand had perfectly aligned with the exit strategy for this property and our investment pro-forma. The combination of these factors played a pivotal role in our ability to return considerable investment dollars to our investors.\u201d<\/em><\/p>\n<p>Cushman &amp; Wakefield\u2019s Andrew Merin, Andrew Schwartz and Ryan Larkin represented The Hampshire Companies in the deal.<\/p>\n<p>Earlier this week, The Hampshire Cos. sold\u00a0a 117,992-square-foot, four-building\u00a0industrial portfolio\u00a0in Connecticut to a private buyer. This summer, the company also sold a six-building <a href=\"https:\/\/www.commercialsearch.com\/news\/nj-industrial-portfolio-changes-hands-in-147m-deal\/\">industrial portfolio<\/a> totaling 1.2 million square feet in northern New Jersey for $146.9 million.<\/p>\n<p><em>Image courtesy of Devli Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The complex includes approximately eight acres of excess developable land, offering the possibility to significantly increase the value of the asset.<\/p>\n","protected":false},"author":137,"featured_media":1004508634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21748,21783,21742,10],"tags":[32799,38019,35314],"class_list":["post-1004194311","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-industrial","category-investment","category-latest","category-northeast","tag-cushman-wakefield","tag-devli-group","tag-the-hampshire-companies"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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