The Hampshire Companies complete sale of 6,705 s/f - lease to AutoZone

The Hampshire Companies completed the sale of a 6,705 s/f retail building located at 300-344 Broad St., which is leased to AutoZone, the nation's leading auto parts retailer. The sale was made to Meadowlands Restaurant, Inc. The Hampshire Cos. were originally attracted to the property because it was located on a corner lot and it offered high visibility and close proximity to The Garden State Parkway, Rte. 22, I-78 and I-280. Prior to taking title to the land, Hampshire obtained the necessary approvals for the construction of a single standing AutoZone building. "Completing the approval process for the property at 300-344 Broad Street in Newark and securing a credited tenant such as AutoZone enabled us to maximize the value of the property," said Robert Schmitt, a principal of The Hampshire Cos. "This transaction reflects Hampshire's ability to read the marketplace and execute the necessary steps that enable tenants to thrive in even the most difficult real estate cycles."