Tuesday, May 21, 2019

Endurance announces the acquisition, development and leasing of an infill, 270,000 SF industrial warehouse site in Berks County

For More Information

Brian Evans

bevans@endurance-re.com

An affiliate of Endurance Real Estate Group, LLC (“Endurance”) and Brasler Properties is pleased to announce the acquisition of Berks61, an 18.44 acre land site located in Muhlenberg Township, Berks County, Pennsylvania (“Project”). Shortly after acquisition, Endurance finalized a 17 year lease with CarbonLITE Holdings LLC for the construction of a 270,000 SF warehouse and manufacturing facility to accommodate their expansion on the East Coast. CarbonLITE is the largest producer of food-grade post-consumer recycled PET in the world and specializes in processing used plastic bottles in bottle-grade PET resin that can then be used to manufacture new plastic beverage bottles, among other products.

“We are thrilled to be working on this exciting development project in partnership with Brasler Properties and CarbonLITE,” stated David Erlbaum, Senior Vice President of Endurance.  Erlbaum added, “Site work has commenced and delivery to CarbonLITE is expected in December.”  The building will contain 270,000 RSF with concrete tilt wall construction, 36’ clear height, a TPO roof, ESFR sprinkler, LED lighting with motion sensors, 42 dock positions, 3 drive-in doors, available rail access, and a 3,000 amp, 3-phase electric system. The development has been approved for a LERTA tax abatement.

Mark Chubb of Colliers International represented CarbonLITE in this transaction. The Lee & Associates team of John Van Buskirk, Joel Kreider and Ed Skonecki represented Endurance.

Endurance and Brasler have teamed up to acquire another development site in Berks County, Berks 222 – www.berks222.com.  This new spec development is located along Business Route 222 and will contain two buildings totaling 160,160 square feet and 167,440 square feet respectively.  Construction on both of these buildings will commence this summer and delivery is expected to be in the second quarter of 2020.  Both buildings will be 32’ clear and LERTA has been approved for this site. Lee and Associates has been named the exclusive leasing agent for the project.

“Berks County, unlike other submarkets, has yet to see the level of warehouse development activity as parts of Central Pennsylvania or the Lehigh Valley have experienced.  With the successful lease up to CarbonLITE at Berks61 and the planned speculative development at Berks 222, we are looking to tap into pent up demand from local users seeking modern facilities,” stated Benjamin Cohen, President of Endurance.

Affiliates of Endurance/Brasler previously owned 171 Tuckerton Road, in Muhlenberg Township and are currently developing multiple projects throughout Eastern Pennsylvania.

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 6.2 million SF with a combined value of $350 million. Endurance currently owns and operates a portfolio totaling nearly 5.0 million square feet consisting of 56 buildings. Existing space includes 3.8 million square feet of industrial and 1.2 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 Brasler Properties
Brasler Properties delivers multi-tenant industrial space and transforms unproductive brownfield sites into competitive Spec or Build to Suit opportunities close to public transport and attractive labor markets. With the addition of the Berks61 CarbonLITE project, Brasler’s successful industrial deliveries over the past 15 years will surpass 4.2 million square feet.

About Lee and Associates
Lee & Associates of Eastern Pennsylvania began operations in May 2015 under the leadership of Principals Brian Knowles, CCIM, SIOR and John Van Buskirk, SIOR. Long recognized individually as national leaders in the industrial real estate business, they have chosen to take their over 45 years of combined real estate experience in a new direction – as broker-owners of this new initiative. Lee & Associates of Eastern Pennsylvania is committed to providing market leading research and support, while remaining grounded in exceptional client service. For the latest news from Lee & Associates of Eastern Pennsylvania, follow us on FacebookLinkedIn and Twitter or visit us on the web at www.lee-associates.com/pennsylvania.