Endurance Acquires Industrials In Naaman's Creek Business Center

UPPER CHICHESTER TOWNSHIP, PA—Bala Cynwyd-based Endurance Real Estate Group says its affiliate has acquired Naaman’s Creek Business Center, a five-building flex portfolio in Upper Chichester Township, PA, for $9.75 million, or about $51.12 per square foot for the 190,729 square feet complex.

“With our advantageous going-in basis and capital to invest in tenant improvements and base building improvements we feel confident in our ability to stabilize this well-maintained, institutional-quality set of buildings with intrinsic appeal to users due to their curb appeal, location, and flexible tenant suite sizes and configurations,” says Benjamin Cohen, president of Endurance. “This Portfolio was historically very well leased up through the late 2000s, and will certainly benefit from a reset basis and the hands-on asset management plan to be implemented under our new ownership.”