REBusinessOnline

Endurance, PCCP Acquire Industrial Portfolio in Southern New Jersey for $43M

600-delran

The seven-property portfolio is located in the southeastern metro Philadelphia area.

DELRAN, MOUNT LAUREL AND SWEDESBORO, N.J. — A partnership between Pennsylvania-based developer Endurance Real Estate Group LLC and New York-based investor Pacific Coast Capital Partners LLC (PCCP) has acquired the Southern New Jersey Core Infill Portfolio for $43 million. The 553,548-square-foot industrial portfolio is located in the southeastern suburbs of metro Philadelphia, and includes seven properties located in Delran, Mount Laurel and Swedesboro. These assets were 88.7 percent leased at the time of sale to warehouse and distribution tenants such as Food Sciences Inc., Carnegie Pharmaceuticals LLC and The Jewelry Group Inc. Michael Hines, Brad Ruppel, Brian Fiumara and Lauren Dawicki of CBRE represented the seller, Foxfield Industrial, a joint venture of Novaya Real Estate Ventures and Foxfield Ventures, in the transaction.

 

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