The Hampshire Cos., a full-service, private real estate investment firm based in Morristown, announced its acquisition of an 84,360-square-foot BJ’s Wholesale Club in Quincy, Massachusetts.
The building at 200 Crown Colony Drive was purchased from Clarion Partners and is located in a rapidly growing market outside of Boston. Hampshire said in a statement that the acquisition provided the company with an “attractive long-term investment providing significant flexibility for adaptive reuse options in the future. “
“Our decision to acquire the Quincy BJ’s property is consistent with our strategy of acquiring high-performing stable, assets in growing markets,” said Robert T. Schmitt, a fund manager for The Hampshire Cos. “Its proximity to Boston and the surrounding areas, as well as the long-term viability of the current tenant and exciting possible future uses as a mixed-use residential development, provide Hampshire with a well-positioned holding that will ensure long-term cash flows.”
Chris Angelone, Nat Heald and Bill Moylan of JLL represented the seller in the transaction.