An affiliate of Endurance Real Estate Group, LLC (“Endurance”) and Thackeray Partners (“Thackeray”) is pleased to announce the signing of two leases with Maintenance Supply Headquarters (“MSH”) and Lean Supply Solutions (“LSS”) which brings the building to 100% occupancy. The Jones Lang LaSalle team of Dean Torosian, Nate Demetsky and Matt Kemery represented Endurance. MSH was represented by the Colliers International team of Bill Littleton and Marc Isdaner. Lean Supply was represented by CBRE broker Dan McGovern.
“These two lease transactions raise the project’s occupancy to 100%. Achieving stabilization after completing our re-development of the building is a testament to tenant demand for functional, in-fill product in the Southern New Jersey market” said Albert J. Corr, Senior Vice President at Endurance. Corr added “We are excited Maintenance Supply chose to relocate their local operations to our facility and happy Lean Supply selected this location to support their expansion onto the East Coast.”
The 292,466 SF building was built in 1997 and renovated in 2018. It is equipped with an ESFR sprinkler system, LED lighting, 32’ clear height, 60’ concrete dock apron, 35 dock doors and 2 drive-in doors, and a 3-phase, 3,200 amp power system.
About Endurance Real Estate Group
Endurance Real Estate Group, LLC (www.endurance-re.com), formed in 2002, is a Radnor, Pennsylvania-based real estate owner/developer focused on income and value add industrial opportunities located in the Mid-Atlantic region. Since its formation, the company has acquired and developed over $700 million of assets totaling 12.5 million SF and sold over 6.9 million SF with a combined value of $420 million. Endurance currently owns and operates a portfolio totaling nearly 4.3 million square feet consisting of 46 buildings. Existing space includes 3.3 million square feet of industrial and 1.0 million square feet of flex/office space. Endurance is currently developing 2 MSF of distribution buildings in several projects in varying building sizes from 176,000 SF up to 1.1 MSF.
About Thackeray Partners
Founded in 2005, Thackeray Partners is a real estate investment firm seeking a diversified portfolio of stabilized, value-add, and development opportunities in industrial and rental housing properties throughout the United States, with a balance of income and capital appreciation on behalf of its partners. Thackeray invests in real estate through a series of private equity funds. The limited partners of Thackeray’s funds consist primarily of university and hospital endowments, charitable foundations, and U.S. based family offices. Since inception, Thackeray has closed on joint venture and direct real estate transactions totaling nearly $5.0 billion, representing equity placements of approximately $1.1 billion. Total investment activity includes over 230 separate transactions representing approximately 22,500 apartment units and nearly 19.5 million square feet of industrial space. For more information, visit www.thackeraypartners.com.
About Maintenance Supply Headquarters
Maintenance Supply Headquarters (MSH) is a Houston based wholesale maintenance supplier primarily to the multi-family industry. They are a Maintenance Supply Headquarters wholesale maintenance supplier which distributes products designed to maintain and renovate multifamily buildings, such as appliances, plumbing, HVAC and lighting. They are based in Houston, Texas and were acquired by Lowe’s in 2017.
About Lean Supply
Lean Supply Solutions is a privately owned, Canadian based company focused on providing innovative solutions for a large and diverse base of multi-national, regional and local companies, including clients operating in industries with unique supply chain requirements.
About Jones Lang LaSalle
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 90,000 as of December 31, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.