MOUNT LAUREL, NJ—A joint venture of Endurance Real Estate Group and Thackeray Partners is acquiring and repositioning 2000 Bishops Gate Boulevard, a 305,250-square-foot, class A industrial warehouse property in the suburban Philadelphia community of Mount Laurel, NJ.
The partners acquired the property from Masahiko Morioka for an estimated $12 million, according to Real Capital Analytics, a proprietary research database.
Holliday Fenoglio Fowler arranged $10 million in financing through an institutional lender. Real Capital Analytics says the building is 100 percent leased to OKI Data Americas for a headquarters and distribution center, but HFF says the new owners expect to reconfigure the property, reducing the office space and increasing warehouse space to meet the immediate market demand for class A bulk distribution warehouse space in southern New Jersey.
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