CBRE announced Wednesday it has arranged the sale of a two-building industrial portfolio in Moorestown on behalf of an affiliate of Endurance Real Estate Group.
The property is located at 550 Glen Ave. and 600 Glen Court and is comprised of 187,569 square feet.
Michael Hines, Brad Ruppel and Brian Fiumara of CBRE represented Endurance and procured the buyer in the deal.
The buildings feature two infill warehouse/distribution buildings and are within close access to Interstate 295 and the New Jersey Turnpike.
“550 and 600 Glen represented seamless execution of infill light industrial repositioning by the Endurance team,” Brad Ruppel, senior vice president, CBRE, said. “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.”
Financial terms were not disclosed.
