S hopping C enters N ew J ersey /P en sylvania
M id A tlantic Real Estate Journal — New Jersey/Pennsylvania — Section B
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Cabot Properties serves as development partner of 2609 Rancocas Road Endurance announces receipt of full entitlements & commencement of construction for 2 spec. warehouses
URLINGTON, NJ — An affiliate of En- durance Real Estate Group, LLC (Endurance) has received full entitlements and has now commenced specu - lative construction on a two- building warehouse project containing 289,042 s/f at 2609 Rancocas Rd. located in Burl - ington. Over the last 18 months, Endurance designed the site to attract high quality warehouse users and has secured entitle - ments and approvals necessary to begin construction. Endur - ance will act as development HI-LIGHTS DEC. 18 - JAN. 14, 2020 B
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 along - side Cabot Properties, and we look forward to completing construction and ultimate lease up of the property,” said Jared Newman , VP of acqui - sitions of Endurance. “Despite the current health crisis, the strength of the Burlington County submar - ket 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. MAREJ
2609 Rancocas Rd.
manager and oversee gen - eral contractor Arco Design / Build Industrial during the construction of the property on behalf of development partner
Cabot Properties . The build - ings are expected to be com - pleted 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 Mar- kets , advised Endurance. “We are excited to see this
PrismCapital Partners receives final site plan approval for build-to-suit medical office at ON3
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in our expanding relationship and our ability to accommo - date this healthcare leader’s diverse needs here.” ON3 represents New Jer - sey’s largest contemplated redevelopment. PrismCapital Partners’ ambitious initiative is transforming the 116-acre former Hoffmann-La Roche campus – located on Route 3 just nine miles from the Lincoln Tunnel – into a multi- tenant, next-generation life - style hub. The Nutley based owner/ operator’s vision for ON3 includes a world-class, mixed- use setting integrating office and R&D facilities, recre - ational, residential, hospital - ity and wellness options, as well as other uses. Spanning the Township of Nutley and the City of Clifton, ON3 will serve as a showplace for the “new urbanist” philosophy that is driving suburban mu - nicipalities to redesign their downtowns and commercial corridors for 24/7 convenience living. MAREJ
CLIFTON, NJ — Con - struction is scheduled to begin in the first quarter of 2021 on a build-to-suit medical office building at Prism Capital Partners’ ON3 campus. The firm received final site plan approval this fall for the 80,000 s/f facility, which has been pre-leased by Hacken - sack Meridian Health. “The building will occupy a parcel on the southeast corner of Metro Boulevard and Route 3 in Clifton,” said Prism’s Eu - gene Diaz, principal partner. “It will include an ambulatory surgical center as well as ad - ditional multi-specialty prac - tice areas, supporting Hack - ensack Meridian Health’s mission to deliver the highest- quality healthcare services to the local community.” The four-story facility, de - signed by Gensler , will fea - ture a glass curtain wall façade and an attached park - ing garage that will provide 400 parking spaces for oc - cupants and visitors. Prism anticipates construction will
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SHELDON GROSS REALTY APPOINTS NEW PRESIDENT
MARCY GROSS
ON3 medical office
be completed in mid-2022. The building will be a model of energy efficiency benefiting from ON3’s existing campus infrastructure, including its central utility plant with a 10-megawatt cogeneration facility. “The in-place, multi- redundant heating, cooling and electricity enables the design of buildings with supe - rior efficiency at a lower cost,” Diaz noted. Hackensack Me r i d i an
Health already occupies ac - ademic, and research and development space at ON3, which serves as home to the organization’s School of Medi - cine and Center for Discovery and Innovation (a National Health Institute-designated Clinical Research Center). “From the very start, Hack - ensack Meridian Health has served as one of ON3’s high - est-profile tenants,” Diaz noted. “We take great pride
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