An affiliate of Endurance Real Estate Group, LLC (“Endurance”) is pleased to announce the disposition of 780 Primos Avenue, a 40,170 SF, manufacturing and distribution facility located in Folcroft, Pennsylvania (“Property”) for $5,475,000. The CBRE National Partners team of Brad Ruppel, Mike Hines, Brian Fiumara and Liam Fahey brokered the sale on behalf of the Seller and procured the buyer.
The building was constructed in 1989, and features 22’ clear ceiling heights, ample loading capacity with full dock packages for the 16 dock positions. The Property is strategically located along US Interstate 95 and was 100% leased to four tenants at closing.
“There was strong interest for this in-fill offering. The building’s 100% occupancy rate and the existing tenant’s lease terms created an extremely competitive bidding process. The irreplaceable proximity to I-95, Philadelphia International Airport and Delaware County’s dense population were driving forces for this multi-tenanted building” stated Albert J. Corr, Senior Vice President from Endurance.
780 Primos is Endurance’s second successful disposition in the Folcroft area over the past few years. In 2015, Endurance sold the adjacent 61,691 square foot building located at 800 Primos Avenue to a user buyer.
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 $814 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.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at http://www.cbre.com/