4A — August 24 - Sept. 13, 2018 — M id A tlantic

Real Estate Journal


M id A tlantic R eal E state J ournal Rosenfarb of Hart Corporation represents the tenant

Endurance announces the signing of a 60,225 s/f lease at 279 Canal in Lower Bucks County

OWERBUCKSCOUN- TY, PA — An affiliate of Endurance Real Estate Group, LLC (Endur- ance) and Thackeray Part- ners (Thackeray) announced a new lease at 279 Canal Rd. with Tri-State Container Corp for 60,225 s/f. The tenant was represented by Jeff Rosen- farb of Hart Corporation . Endurance was represented by Jonas Skovdal of Cushman and Wakefield. 279 Canal Rd. is part of a four building portfolio Endurance purchased in late 2017 total- ing 240,358 s/f. Shortly after L

acquiring these assets, Endur- ance directed a full cleanup and make-ready program for the 63% occupied portfolio. Specu- lative improvements included paving upgrades, various land- scaping enhancements, newT-5 lighting at the 199 Canal build- ing, roof replacements at 199 and 279 Canal as well loading dock door upgrades throughout the portfolio. In addition to the Tri-State Container lease, Endurance recently executed two leases totaling 60,000 s/f at 199 Canal Rd. with Excellent Quality Movers (30,000 s/f) and LKQ Corp (30,000 s/f) fully sta- bilizing the asset within eight months from acquisition. Albert Corr , senior vice president of Endurance Real Estate Group said, “We are excited to welcome Tri-State into our portfolio. Their use is perfect for the building and it is great to see another Bucks County based company ex- panding their footprint. This transaction will increase our portfolio’s occupancy level to 100%, which further demon- strates the demand from local and regional tenants for quality infill locations throughout the Philadelphia region.”  STRO develops future real estate executives RIDGEWOOD, NJ — The Stro Companies (Stro) an- nounced its newest employees and an “Evening with a Legend Dinner featuring Steven Mill- stein ” at a recent New Jersey NAIOP event. Stro announced two recent hires, ZachLaMotta and Matt Pecoraro . “We are pleased to welcome Zach and Matt to Stro. They have already become integral parts of the company, playing a vital role in our ability to grow and service our tenants” said Steven Millstein. La Motta is a recent gradu- ate of Vanderbilt University. He is active in the company’s acquisitions and leasing group, as well as managing major capital projects. Zach has be- come instantly active in the real estate community and serves as co-chair of the New Jersey NAIOP Chapter’s Developing Leaders group. Pecoraro is director of man- agement services for Stro’s portfolio of direct investments Prior to joining Stro, Pecoraro worked in both accounting and technology. 

279 Canal Road

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