The Hampshire Companies and MCB Real Estate Sell 113,481-Square-Foot, Fully-Leased Retail Property in Plainwell, Mich.
Property is Fully Leased to The Home Depot
Plainwell, MI – August 12, 2013 – (RealEstateRama) — The Hampshire Companies, a full service, private real estate investment firm with equity in assets valued at over $2.5 billion, in a joint venture with MCB Real Estate has announced the sale of a 113,481-square-foot retail property located at 1227 Michigan 89 in Plainwell, Mich. to Cole Real Estate Investments.
The property, consisting of 98,839 square feet of retail space and an 18,642-square-foot garden center, is fully leased to The Home Depot, the world’s largest home improvement specialty retailer. The building is ideally located on state highway M-89 just 0.3 miles from access to U.S. Highway 131, offering high visibility along a heavily traveled retail corridor, providing easy access and excellent signage opportunities.
“Having a long-term lease deal with a strong-credit, national tenant like The Home Depot already in place made this an attractive investment for the buyer,” said Rob Schmitt, a Fund Manager for The Hampshire Companies. “The disposition of this asset allows us to achieve superior returns for our investors and fit well within our investment strategy and cycle.”
CBRE represented The Hampshire Companies in the transaction.
About The Hampshire Companies
The Hampshire Companies is a full-service, private real estate firm based in Morristown, New Jersey. The Hampshire Companies is a vibrant, dynamic organization that combines creative vision and superior execution, thereby enabling it to create and enhance value in real estate investments. Additional information on The Hampshire Companies is available online at http://www.hampshireco.com.
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