The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $2 billion, celebrated the grand opening of Storage Post, an 888-unit state-of-the-art climate-controlled self storage facility and Newark's first-ever "ground up" development of its kind, with a ribbon cutting ceremony on July 26, 2007.
Newark, NJ (PRWEB) July 29, 2007 -- The Hampshire Companies, a full service, private real estate investment fund manager with equity in assets valued at over $2 billion, celebrated the grand opening of Storage Post, an 888-unit state-of-the-art climate-controlled self storage facility and Newark's first-ever "ground up" development of its kind, with a ribbon cutting ceremony on July 26, 2007. Newark Deputy Mayor Margarita Muñiz and Councilmen Donald M. Payne, Jr. and Oscar S. James, II helped mark the milestone for the City of Newark as well as for the facility. The new Storage Post is an investment of The Hampshire Generational Fund, LLC, one of the firm's private equity real estate investment funds tailored to high net worth investors, and will be operated by Slayton Development of Garden City, New York.
"This is an important day not only for the South Ward community, but for the entire City of Newark," said Deputy Mayor Muñiz. "Through the leadership of Mayor Cory Booker we look forward to not only developing our communities, but our families as well. This project aids Newark in establishing a deserving place in America and we thank The Hampshire Companies for their vision and commitment to our community and this great City."
Councilman Payne added, "I am pleased to be standing on this site today seeing the revitalization of the neighborhood that I grew up in. This truly is a great day for our City and I thank The Hampshire Companies for their foresight and for seeing Newark the same way I always have, as a diamond in the rough."
"We had been looking to reinvest in Newark for a number of years and this project proved to be the opportunity that we were looking for," said Jon F. Hanson, Chairman of The Hampshire Companies. "We thank the City of Newark for its support of this project and we look forward to continuing our relationship with the community. We believe the City of Newark has a great deal of untapped potential for economic development and we are excited to contribute to the continued revitalization of the City."
The new 92,000-square-foot Hampshire Storage Post property is located at the corner of Elizabeth Avenue and Hawthorne Avenue in the Newark's South Ward and will provide prime storage space to local businesses and residents.
With 78 units already leased, Hampshire Storage Post offers a wide variety of variously-sized spaces ranging from 50 to 300 square feet for the public to store virtually anything.
Hampshire Storage Post will be operated by Slayton Development, a private concern based in Garden City, New York, which has been developing and operating retail, office, self storage and technology parks for the past 40 years. Slayton served as construction manager for the development.
The Hampshire Companies have developed Storage facilities throughout New Jersey including Edgewater, Fort Lee, Watchung, North Brunswick, and Union. The Company also has four new facilities in Puerto Rico.
The Hampshire Generational Fund, LLC, is a commingled, discretionary real estate investment fund. The goal of the Fund is to deliver superior, above-market returns to its investors through the acquisition and operation of industrial, retail, office and self storage properties, as well as an investor in other real estate funds.
The Hampshire Companies is a full-service, private real estate investment fund manager 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 in order to consistently outperform the market. Additional information on The Hampshire Companies and its funds is available online at www.hampshireco.com.
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