Affiliates of Endurance Real Estate Group, LLC (“Endurance”) and PCCP are pleased to announce the signing of a full building, 57,930 SF lease with Monster Pets at 601 Delran Parkway located in Delran, NJ (the “Property”). The lease with Monster Pets increases the Property’s occupancy to 100%. Scott Mertz of NAI Mertz represented Endurance and PCCP in this transaction.
“We are thrilled to accommodate Monster Pets’ growth within our portfolio” stated Albert J. Corr, Senior Vice President at Endurance. Corr added “We recently purchased 601 Delran and the quick lease up of this building is a testament to the building’s location and functionality. The Burlington County submarket remains extremely tight.” As reported by CBRE for the period ending 2Q2020, the Burlington County submarket recorded a 3.6% vacancy rate and year to date net absorption of over 1.7msf.
601 Delran Parkway is located less than one mile from US Route 130 and is part of the Swedes Run Industrial Park. This location offers excellent transportation links to Interstate Highways and is within 250 miles of most major markets in the Northeast and Mid-Atlantic regions. As part of the Philadelphia MSA Industrial Market, the Southern New Jersey Industrial Market is an established center for national retail distribution and consumer goods companies in the Eastern United States.
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 $750 million of assets totaling 14.0 million SF and sold over 8.4 million SF with a combined value of $545 million. Endurance currently owns and operates a portfolio totaling nearly 5.0 million SF consisting of 46 buildings. Existing space includes 4.2 million SF of industrial and 800,000 SF of flex/office space. Endurance is currently developing over 700,000 SF of distribution buildings in several projects in building sizes ranging from 62,000 SF up to 400,000 SF across Pennsylvania and New Jersey.
PCCP, LLC is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $11.6 billion in assets under management on behalf of institutional investors. With offices in New York, San Francisco, Atlanta, and Los Angeles, PCCP has a 21-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $23.1 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.