Newmark Serves as Strategic Advisor for The Hampshire Companies on a $300M Recapitalization of the Fairfalls Logistics Portfolio
Newmark Group, Inc. (Nasdaq: NMRK) has served as a strategic advisor to The Hampshire Companies on a $300 million recapitalization of The Fairfalls Logistics Portfolio and assisted in procuring a joint venture equity partner. The Portfolio comprises 1.35 million square feet of light industrial space across 30 buildings, currently 92% leased. Located primarily in Fairfield, New Jersey, with additional properties in Little Falls, Elmwood Park, and Carteret, the Portfolio offers strategic access to major Northeast corridors.
The transaction highlights include:
- Average building size of 45,000+ square feet
- $14.3 million invested in capital improvements
- Broad zoning capabilities supporting various industrial uses
- Northern New Jersey's industrial market strength, with a 5.3% vacancy rate and average asking rents of $17.01/SF in Q2 2024
Newmark Group, Inc. (Nasdaq: NMRK) ha servito come consulente strategico per The Hampshire Companies in una ricapitalizzazione di 300 milioni di dollari del Fairfalls Logistics Portfolio e ha assistito nel reperire un partner di equity per una joint venture. Il Portfolio comprende 1,35 milioni di piedi quadrati di spazio industriale leggero distribuiti su 30 edifici, attualmente 92% affittati. Situato principalmente a Fairfield, nel New Jersey, con proprietà aggiuntive a Little Falls, Elmwood Park e Carteret, il Portfolio offre accesso strategico ai principali corridoi del Nord-est.
I punti salienti della transazione includono:
- Dimensione media degli edifici di oltre 45.000 piedi quadrati
- 14,3 milioni di dollari investiti in miglioramenti capitali
- Ampie capacità di zonizzazione a supporto di vari usi industriali
- Forza del mercato industriale del nord del New Jersey, con un tasso di vacanza del 5,3% e canoni medi di $17,01/piede quadrato nel secondo trimestre del 2024
Newmark Group, Inc. (Nasdaq: NMRK) ha actuado como asesor estratégico para The Hampshire Companies en una recapitalización de 300 millones de dólares del Fairfalls Logistics Portfolio y ha ayudado a obtener un socio de capital para una empresa conjunta. El Portfolio comprende 1.35 millones de pies cuadrados de espacio industrial ligero distribuidos en 30 edificios, actualmente 92% alquilados. Situado principalmente en Fairfield, Nueva Jersey, con propiedades adicionales en Little Falls, Elmwood Park y Carteret, el Portfolio ofrece acceso estratégico a los principales corredores del noreste.
Los puntos destacados de la transacción incluyen:
- Tamaño promedio de los edificios de más de 45,000 pies cuadrados
- 14.3 millones de dólares invertidos en mejoras de capital
- Amplias capacidades de zonificación que apoyan varios usos industriales
- Fortaleza del mercado industrial del norte de Nueva Jersey, con una tasa de vacantes del 5.3% y alquileres promedio de $17.01/pie cuadrado en el segundo trimestre de 2024
뉴마크 그룹(Nasdaq: NMRK)이 The Hampshire Companies의 전략적 고문으로 활동하여 Fairfalls Logistics Portfolio의 3억 달러 규모의 자본 재조정을 지원하고 공동 투자자 파트너를 확보했습니다. 이 포트폴리오는 135만 제곱피트의 경량 산업 공간을 30개 건물에 걸쳐 포함하고 있으며, 현재 92% 임대 중입니다. 대체로 뉴저지주 페어필드에 위치하며, Little Falls, Elmwood Park 및 Carteret에 추가 속성이 있으며, 이 포트폴리오는 북동부 주요 회랑에 전략적으로 접근할 수 있습니다.
거래의 주요 내용은 다음과 같습니다:
- 평균 건물 크기 45,000+ 제곱피트
- 1,430만 달러의 자본 개선 투자
- 다양한 산업 용도를 지원하는 광범위한 구역 지정 능력
- 북부 뉴저지의 산업 시장 강세, 5.3%의 공실률과 2024년 2분기 평균 임대료 $17.01/제곱피트
Newmark Group, Inc. (Nasdaq: NMRK) a agi comme conseiller stratégique pour The Hampshire Companies lors d'une recapitalisation de 300 millions de dollars du Fairfalls Logistics Portfolio et a aidé à obtenir un partenaire de capital pour une coentreprise. Le Portfolio comprend 1,35 million de pieds carrés d'espace industriel léger répartis sur 30 bâtiments, actuellement 92 % loués. Principalement situé à Fairfield, dans le New Jersey, avec des propriétés supplémentaires à Little Falls, Elmwood Park et Carteret, le Portfolio offre un accès stratégique aux principaux corridors du Nord-Est.
Les points forts de la transaction comprennent :
- Taille moyenne des bâtiments de plus de 45 000 pieds carrés
- 14,3 millions de dollars investis dans des améliorations en capital
- Capacités de zonage larges soutenant divers usages industriels
- Force du marché industriel du nord du New Jersey, avec un taux de vacance de 5,3 % et des loyers moyens de 17,01 $/pied carré au deuxième trimestre 2024
Die Newmark Group, Inc. (Nasdaq: NMRK) hat als strategischer Berater für The Hampshire Companies bei einer Rekapitalisierung in Höhe von 300 Millionen Dollar des Fairfalls Logistics Portfolios gedient und bei der Beschaffung eines Joint-Venture-Eigenkapitalpartners unterstützt. Das Portfolio umfasst 1,35 Millionen Quadratfuß leichte Industrieflächen, verteilt auf 30 Gebäude, die derzeit zu 92 % vermietet sind. Es befindet sich hauptsächlich in Fairfield, New Jersey, mit weiteren Immobilien in Little Falls, Elmwood Park und Carteret, und bietet strategischen Zugang zu wichtigen Korridoren im Nordosten.
Die Höhepunkte der Transaktion umfassen:
- Durchschnittliche Gebäudefläche von über 45.000 Quadratfuß
- 14,3 Millionen Dollar in Kapitalverbesserungen investiert
- Breite der Zonierungsmöglichkeiten zur Unterstützung verschiedener industrieller Nutzungen
- Stärke des Industrie-Marktes in Nord-New Jersey mit einer Leerstandsquote von 5,3 % und einem durchschnittlichen Mietpreis von 17,01 $/SF im 2. Quartal 2024
- $300 million recapitalization of a major industrial portfolio
- 92% occupancy rate across 1.35 million square feet of industrial space
- Strategic locations providing access to major Northeast corridors
- $14.3 million invested in capital improvements
- Strong Northern New Jersey industrial market with 5.3% vacancy rate
- 87% increase in average asking rents since end of 2019
- None.
Insights
The $300 million recapitalization of the Fairfalls Logistics Portfolio is a significant move in the industrial real estate sector. With a 92% occupancy rate across 1.35 million square feet, this portfolio demonstrates strong demand in the Northern New Jersey market. The
The strategic location near major highways and ports positions this portfolio for long-term appreciation. The
The recapitalization of this industrial portfolio highlights the ongoing investor appetite for well-located, multi-tenant industrial assets. The Northern New Jersey market's strategic importance as a gateway to major population centers and ports cannot be overstated. The portfolio's diverse tenant base across various industries provides resilience against sector-specific downturns.
The average building size of 45,000 square feet caters to a broad range of tenants, offering flexibility in a market where last-mile delivery and e-commerce fulfillment are driving demand. The tight vacancy rate of
Currently
"The Newmark team is proud to have secured the JV partner on behalf of Hampshire to accommodate the recapitalization of its expansive industrial portfolio," said Welsh. "The new partnership, combined with Hampshire's decade-long stewardship of the Portfolio, will drive near-term value through mark-to-market rental increases and long-term capital appreciation through enhancing the Portfolio's market position."
Highlights of the Portfolio include broad zoning capabilities that support warehousing, manufacturing and light industrial uses, accommodating a diverse range of tenants across various industries and sizes. Additionally, ownership has invested
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate investment firm based in
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
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FAQ
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How much was the recapitalization of The Fairfalls Logistics Portfolio worth in the Newmark (NMRK) advised deal?
What is the average asking rent for industrial space in Northern New Jersey as of Q2 2024, according to Newmark (NMRK)?
How much has The Hampshire Companies invested in capital improvements for the portfolio advised by Newmark (NMRK)?
