Affiliates of Endurance Real Estate Group, LLC (“Endurance”) and Greystar-Thackeray (“Thackeray”) are pleased to announce the acquisition of 205 Schoolhouse Road, a land parcel located in Souderton, Pennsylvania, and the immediate start of construction of a 176,000 square foot, state-of-the-art warehouse facility. This project marks the 13th joint venture between Endurance and Thackeray since 2006. The JLL team, led by Chad Orcutt, Ryan Ade, and Blaine Fleming, served as exclusive advisors to Endurance in securing construction financing for the development. Endurance previously developed and secured a long-term tenant for the adjacent 176,700 square foot warehouse, known as the 209 Commerce Center, in 2020. 209 Commerce Center was later sold to an institutional investor in 2021. The land parcel was purchased from the same landowner as 209 Commerce Center via an off-market transaction.
“After successfully navigating the entitlements process, and now seeing this project commence following our initial success on the adjacent building, this is a proud milestone for our team. We look forward to continuing our long-standing partnership with Thackeray, breaking ground in the coming days, and delivering this project by the 4th quarter of 2025,” stated Benjamin Cohen, President of Endurance.
Jared Newman, Senior Vice President and Partner at Endurance, remarked, “205 Commerce Center reflects our commitment to creating top-tier infill warehouse facilities that offer excellent access to skilled labor and critical transportation networks. With PennDOT’s ongoing expansion of the Northeast Extension of the PA Turnpike (I-476), this site’s connectivity continues to improve, strengthening its appeal to high-quality and diverse tenants.”
Endurance will oversee the construction of the 176,000 square-foot warehouse/distribution facility, equipped with state-of-the-art features, including:
- Tilt-wall panel construction
- 36’ clear height
- 60’ deep speed bays, 54‘wide x 52’ deep typical column spacing
- High-bay LED lighting with motion sensors
- 60 mil fully adhered roof membrane
- ESFR sprinkler system
- 27 overhead dock door positions sized for 9’ x 10’ of which 14 will be equipped with mechanical levelers, bumpers, seals, and dock lights
- Two 14’ x 16’ drive-in doors
- 31 trailer stalls and 180 car parking spaces
- 1,500 amp, 3-phase main electric service
“We are excited to continue our partnership with Endurance,” said Kim Kepley, a Senior Director for Investment for Greystar. “205 Commerce Center aligns with Greystar’s goal to provide shallow bay, regional distribution warehouses. This state-of-the-art warehouse will offer modern solutions to meet the evolving needs of tenants and businesses in an infill location.”
Construction will begin in the coming days, with completion anticipated by 4Q 2025. This prime location near the recently improved Lansdale Interchange of the PA Turnpike (Exit 31 – 476 Northeast Extension) provides exceptional connectivity to Philadelphia, its surrounding counties, and major east coast markets, seaports, and transportation systems. The Cushman & Wakefield leasing team of Gerry Blinebury, Jonas Skovdal and Chris Butera have been named the exclusive listing agents for the project.
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 $1.4 billion of assets totaling 21 million SF. Endurance currently owns and operates a portfolio totaling over 7.4 million square feet. Endurance is currently developing over 1.2 million square feet of distribution buildings in several projects in varying building sizes from 234,830 SF up to 1,006,500 SF as well as entitling several other projects totaling roughly one million square feet.
About Greystar-Thackeray
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates nearly $315 billion of real estate in approximately 250 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages over 1,000,000 units/beds globally, and has a robust institutional investment management platform comprised of over $78 billion of assets under management, including approximately $36 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 52,000 employees in nearly 400 offices and approximately 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services.