An affiliate of Endurance Real Estate Group, LLC (“Endurance”) and Thackeray Partners (“Thackeray”) is pleased to announce the disposition of 2075 Loucks Road, a 174,572 SF, manufacturing and distribution facility located in York, Pennsylvania (“Property”) for $11,375,000. The JLL Capital Markets team of John Plower, Ryan Cottone and Zach Maguire brokered the sale on behalf of the Seller and procured the buyer.
The building was constructed in 1980, expanded in 1986 and renovated in 1996. The building features 18-30’ clear ceiling heights, ample loading capacity with full dock packages for the 13 dock positions. The Property is strategically located along US Route 30 and I-83 with close proximity to I-76 and I-81, two principal highways in central Pennsylvania. The Property was 100% leased to York Wallcoverings at closing.
“The building’s functionality, location and tenancy attracted a group of strong bidders for this offering.” stated Albert J. Corr, Senior Vice President from Endurance. “The tenant has occupied the building since 1992 and its operations are completely entrenched in the building.
2075 Loucks is Endurance’s third successful transaction in the York market since 2015. In 2015 Endurance sold 515 Zarfoss, a 312,769 SF building and in 2016 sold 325 Salem Church Road, a 785,400 square foot class A warehouse leased to Target for an e-commerce facility.
In addition, Endurance continues to own and develop in the York submarket having recently delivered a newly constructed 352,000 square foot, 36’ clear building at 693 North Hills Road. http://properties.cbre.us/693NorthHills/
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 $800 million of assets totaling 14.5 million SF and sold over 9.9 million SF with a combined value of nearly $700 million. Endurance currently owns and operates a portfolio totaling over 3.6 million square feet consisting of 44 buildings. Existing space includes 2.9 million square feet of industrial and 700,000 square feet of flex/office space. Endurance is currently developing over 1 million SF of distribution buildings across several projects in varying building sizes from 71,000 SF up to 400,000 SF.
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 $5.3 billion, representing equity placements of approximately $1.2 billion. Total investment activity includes over 210 separate transactions representing approximately 23,200 apartment units and nearly 20.0 million square feet of industrial space. For more information, visit www.thackeraypartners.com.
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 $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.