An affiliate of Endurance Real Estate Group, LLC (“Endurance”) is pleased to announce the disposition of 3747 Hecktown Road, a 307,290 SF warehouse/distribution building located in Easton, Pennsylvania (“Property”) for $62,300,000. The JLL Capital Markets and Industrial Brokerage team of John Plower, Ryan Cottone, Zach Maguire, and Jeff Lockard brokered the sale on behalf of the Seller and procured the buyer.
Built in 1986 and expanded in 2013, 3747 Hecktown Road is a 307,290 square foot, single tenant warehouse facility situated on 28.47 acres. The Property is strategically positioned off of Route 33, on the eastern edge of the Lehigh Valley, providing immediate access to Route 22, I-78 and the region’s impressive highway network. 3747 Hecktown Road also benefits from access to both the Lehigh Valley Airport and the largest FedEx Ground Shipping Hub in the United States. 3747 Hecktown Road is fully occupied by Phillips Pet Food & Supplies, serving as the company’s corporate headquarters and primary distribution location in the Northeast United States.
“Demand on this asset was very strong as buyers continue to seek well-located stabilized assets throughout Eastern Pennsylvania, particularly in the Lehigh Valley,” stated Albert J. Corr, Senior Vice President from Endurance.
“The Lehigh Valley remains a top industrial market in the country for both investors and tenants, alike,” Plower said. “3747 Hecktown Road is well located within the market and is a highly functional warehouse with a surplus of excess car and trailer parking, which is difficult to replace. Given the aforementioned, this will great asset for the foreseeable future.”
3747 Hecktown is Endurance’s fourth successful disposition this year. Over the last 90 days, Endurance has acquired and began construction on Scranton North Logistics Center (a 1 MSF speculative distribution center in Olyphant, PA), commenced construction on the Middletown Logistics Center (a 251,200 SF speculative distribution center in Middletown, PA), purchased a 1.6 MSF multi-tenant, multi-building property in York, PA, known as the York Business Center, and completed construction of a two-building 330,000 SF speculative industrial park in Berks County, known as Berks 222.
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 over $1 billion of assets totaling 18 million SF and sold 10.8 million SF with a combined value of $740 million. Endurance currently owns and operates a portfolio totaling over 7.1 million square feet consisting of 47 buildings. Existing space includes 4.5 million square feet of industrial space and 750,000 square feet of flex/office space. Endurance is currently developing over 1.9 million square feet of distribution buildings in several projects in varying building sizes from 60,000 square feet up to 1,000,000 as well as entitling several other projects totaling 2 million square feet.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 92,000 as of June 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For addition information on JLL please visit jll.com.