December 22, 2006 - January 11, 2007

CARLISLE, PA - NAI James E. Hanson recently represented Hampshire Companies in the acquisition of the 414,000 s/f industrial/office building located at 180 Kost Rd., NAI Hanson's executive director of corporate services Michael Walters, SIOR and corporate service executive Hal Messer handled the transaction, which has a value that has been estimated at nearly $24 million.

NAI Geis represented the seller, Oaktree Capital in this transaction. Three NAI Global offices participated in the transaction. Daniel Alderman of NAI/CIR in Harrisburg and Dean Geis [and Kevin Cook] of NAI Geis Realty in Philadelphia represented the sellers, Silver Springs Offices, LLC.

The building features 80,000 s/f of warehouse space, 90% of which is leased by IBM for its Fully-Automated Global Distribution Center.

"It is with great pride and confidence that we continue our relationship with Hampshire Companies,: said Walters, "Hampshire continues to be a leading property owner and investor and this addition to the company's portfolio demonstrated Hampshire's ability to identify and acquire large assets that are strategically well positioned in strong markets, such as Carlisle, PA which serves as a major distribution hub for the Northeast."
Messer added, "180 Kost Rd. offers Hampshire the unique benefit of acquiring a property at a substantial discount to replacement costs while having a strong high-credit tenant such as IBM, and the ability to add significant value to the property through the leasing of the vacant office building and the potential expansion to the existing warehouse."