Endurance announces receipt of full entitlements & commencement of construction
Burlington, NJ — An affiliate of Endurance Real Estate Group, LLC (Endurance) has received full entitlements and has now commenced speculative construction on a two-building warehouse project containing 289,042 s/f at 2609 Rancocas Rd. located in Burlington. Over the last 18 months, Endurance designed the site to attract high quality warehouse users and has secured entitlements and approvals necessary to begin construction. Endurance will act as development manager and oversee general contractor Arco Design / Build Industrial during the construction of the property on behalf of development partner Cabot Properties. The buildings are expected to be completed by early 4Q 2021. Kurt Montagano of Newmark represented the seller in the transaction and John Plower, Nate Demetsky, and Ryan Cottone of JLL Capital Markets, advised Endurance.
“We are excited to see this speculative project kick off and especially proud of our team’s perseverance in efficiently achieving approvals despite various site complexities and other unique hurdles relating to the global pandemic. This is our first development alongside Cabot Properties, and we look forward to completing construction and ultimate lease up of the property,” said Jared Newman, VP of acquisitions of Endurance.
“Despite the current health crisis, the strength of the Burlington County submarket and all of New Jersey has not slowed a bit and, if anything, tenant demand has accelerated. We are bullish on our ability to pre-lease these buildings with their best-in-class-design features and superb location,” noted Benjamin Cohen, president of Endurance.