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2609 Rancocas-Springfield Road

Endurance Real Estate Group Leases Industrial Space To United Fulfillment In Burlington Township
LEASEDIndustrial

Endurance Real Estate Group Leases Industrial Space To United Fulfillment In Burlington Township

2609 Rancocas-Springfield Road

Building Size

217,986 SF

Asset Type

Industrial

Closing

Nov 9, 2023

AI

The 217,986 square foot industrial property located at 2609 Rancocas-Springfield Road in Burlington has been leased to United Fulfillment. The property is part of the Rancocas 5 Industrial Park, developed by Endurance Real Estate Group. This lease contributes to the park's full occupancy, highlighting the strong demand for quality warehouse space in Burlington County.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: Not specified
  • Address: 2609 Rancocas-Springfield Road
  • Market: Burlington

The landlord, Endurance Real Estate Group, was represented by Albert J. Corr. The tenant, United Fulfillment, secured the lease with the assistance of Allen Ding from Visionaire Real Estate and Casey Mungo from Daum Commercial Real Estate Services. JLL, represented by Dean Torosian, Matt Kemery, and Nate Demetsky, collaborated with Endurance Real Estate Group to achieve full occupancy for the Rancocas 5 Industrial Park.

Players

Casey Mungo

Daum Commercial Real Estate Services

Broker

$116.1M

vol

5 deals

Broker

Albert Corr

Endurance Real Estate Group LLC

Landlord

$62.3M

vol

2 deals

Landlord

Burlington Industrial Market Snapshot

Boundary boundary · Industrial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93