2000 Bishops Gate Blvd. in Mount Laurel — Courtesy: HFF
By Joshua Burd
The new owner of a 305,250-square-foot warehouse in Mount Laurel is repositioning the property, with the help of $10 million in financing arranged by brokers with HFF.
The firm announced Wednesday that it worked on behalf of the borrower, a partnership between affiliates of Endurance Real Estate Group and Thackeray Partners, to secure the financing through an institutional lender for 2000 Bishops Gate Blvd. The building, part of the 1.45 million-square-foot, master-planned Bishops Gate Corporate Center, is at the intersection of Route 38 and Interstate 295.
The HFF team representing the borrower was led by Managing Director Ryan Ade, Senior Managing Director Kevin MacKenzie and Director Campbell Roche.
“HFF was pleased to obtain favorable financing on behalf of our clients, Endurance and Thackeray, for their acquisition in Mount Laurel,” Ade said in a prepared statement. “The strength of the real estate and location along with the quality of the sponsorship attracted lenders and led to a favorable outcome.”
The property is available for lease and has a 30-foot clear ceiling height, 55-foot-by-50-foot column spacing and 25 loading docks, with one compactor door and two drive-in doors, HFF said in a news release. After the repositioning, the property will be reconfigured to increase the amount of warehouse space and reduce the amount of existing office space, with the goal of meeting the immediate market demand for Class A bulk distribution warehouse space in southern New Jersey.
