Black Creek Group Acquires New Jersey Warehouse for $32M
- Jan 23, 2020
Endurance Real Estate Group and Thackeray Partners have sold 2000 Bishops Gate, a 292,466-square-foot, Class A industrial facility in Mount Laurel, N.J. Black Creek Group acquired the warehouse for $32.2 million. JLL represented the seller.
The property is located on roughly 21 acres and is just off N.J. Route 38, which provides access to the N.J. Turnpike and Interstate 295. Built in 1988, the building features 32-foot clear ceiling heights, an ESFR sprinkler system and 35 dock positions.
After acquiring the building in 2017, Endurance invested $5 million in capital improvements at the property. The company replaced the roof, installed LED lighting and added 10 dock doors. At the time of the sale, the property was fully leased to two tenants.
JLL’s team included John Plower, Ryan Cottone, Zach Maguire, Dean Torosian and Nate Demetsky. Last year, Plower and Cottone also assisted the seller of a 456,810–square-foot industrial asset in Shiremanstown, Pa.