Newmark Arranges $300M Recapitalization of North Jersey Industrial Portfolio

Newmark Group served as a strategic advisor to The Hampshire Companies on a $300-million recapitalization of The Fairfalls Logistics Portfolio in Northern New Jersey and assisted in procuring a joint venture equity partner. The transaction was facilitated by Newmark executive managing director Kevin Welsh and global head of industrial and logistics Jack Fraker with managing director Brian Schulz. 

Currently 92% leased, the portfolio totals 1.35 million square feet of light industrial space across 30 buildings. With a large concentration in Fairfield, providing direct access to critical highways such as I-80 and U.S. Route 46, the portfolio also spans Little Falls, Elmwood Park and Carteret, NJ.

“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.”

Pictured: 39 Plymouth St. in Fairfield, NJ.

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