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Monster Pets Leases Industrial Property In Delran From Endurance Real Estate Group

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LEASED

New Jersey

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Industrial57,930 SF
Leased 09/15/2020
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LEASED

Monster Pets Leases Industrial Property In Delran From Endurance Real Estate Group

601 Delran Pkwy, Delran, NJ, 08075

See Similar Deals
Industrial57,930 SF
Leased 09/15/2020
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Summary

NEW JERSEY
Asset Type:Industrial
Price Per Square Foot:$0
Total Square Footage:57,930 SF
Transaction Type:Lease

The industrial property located at 601 Delran Parkway in Delran, NJ, 08075, spans a total of 57,930 square feet. The space features 22-foot clear heights, a 2,000-amp, 277/480 volt three-phase power connection, 40- by 40-foot column spacing, and 2,320 square feet of office space. Situated within Swedes Run Industrial Park, the property is conveniently positioned less than a mile away from U.S. Route 130, providing easy access to both Philadelphia and Southern New Jersey.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: Not provided
  • Landlord's Representative: Scott Mertz (NAI Capital)
  • Tenant: Monster Pets
  • Landlord: Endurance Real Estate Group

Albert Corr, senior vice president at Endurance Real Estate Group, shared that Monster Pets will utilize the 57,930-square-foot space for distribution purposes, signing an 8.5-year lease. Following the lease agreement, Monster Pets is in the process of relocating to the industrial property. Moreover, the lease with Monster Pets has brought the property to full occupancy shortly after Endurance Real Estate Group and PCCP's acquisition of 601 Delran Parkway, part of a seven-property industrial portfolio totaling 553,000 square feet that they purchased together in April.

Players

Scott Mertz
15 deals$44.9M volume
BROKER

LANDLORD

Details

LEASED
IMAGE: 09/15/2020 ADDRESS: 601 Delran Pkwy, Delran, NJ, 08075 MARKET: Delran ASSET TYPE: Industrial LANDLORD'S REP: Scott Mertz(NAI Capital) TENANT: Monster Pets LANDLORD: Endurance Real Estate Group SQUARE FEET: 57930

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Deal Type
Effective Rent (Annual)

$3,320,512.64

Total Lease Value

$33,205,126.43

Net Landlord Cash Flow$3,320,512.64