CBRE today announced that it has arranged for the sale of 550 Glen Avenue and 600 Glen Court, a two-building, 187,569 sq. ft. industrial portfolio located in Moorestown, New Jersey on behalf of an affiliate of Endurance Real Estate Group, LLC (“Endurance”).
The CBRE team of Michael Hines, Brad Ruppel and Brian Fiumara represented Endurance and procured the buyer in the transaction.
The buildings were constructed in the late 1970’s and feature two infill warehouse/distribution buildings along South Jersey’s I-295 corridor, providing superior access to I-295, the New Jersey Turnpike, as well as the Philadelphia and New York MSAs.
“550 and 600 Glen represented seamless execution of infill light industrial repositioning by the Endurance team,” stated Brad Ruppel, Senior Vice President, CBRE. “Credit tenancy, labor abundance, bridge and interstate proximity and functional high-throughput design complemented positive econometric projections based on limited available I-95/I-295 corridor supply. The uniqueness of the opportunity resonated with a deep bench of institutional investors.”
The CBRE team of Michael Hines, Brad Ruppel and Brian Fiumara represented Endurance and procured the buyer in the transaction.
The buildings were constructed in the late 1970’s and feature two infill warehouse/distribution buildings along South Jersey’s I-295 corridor, providing superior access to I-295, the New Jersey Turnpike, as well as the Philadelphia and New York MSAs.
“550 and 600 Glen represented seamless execution of infill light industrial repositioning by the Endurance team,” stated Brad Ruppel, Senior Vice President, CBRE. “Credit tenancy, labor abundance, bridge and interstate proximity and functional high-throughput design complemented positive econometric projections based on limited available I-95/I-295 corridor supply. The uniqueness of the opportunity resonated with a deep bench of institutional investors.”
About CBRE Group, Inc.
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 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 www.cbre.com.
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 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 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 www.cbre.com.
