Jim Young of Grubb & Ellis represented Del Monte in the transaction. Endurance has also given Young the assignment to market the building.

"The property fits our investment criteria on many levels," says Benjamin Cohen, president of the three-year-old Endurance Real Estate Group, which has amassed a portfolio of one million sf since its founding. "The building has always been owner-occupied, and we saw an opportunity to reposition it into a multi-tenant facility with a capital improvement plan.

"The building is already demised into five separate sections and can offer space combinations from 28,000 sf to the full building," Cohen continues. "We will be marketing the building on a regional basis.

The newly acquired asset was built in several stages between 1952 and 1962, and underwent a major renovation in 1986, according to Cohen. Located near Exit 2 of the New Jersey Turnpike, and close to the sprawling Pureland Industrial Park, the site has the capability for an expansion of up to another 180,000 sf.

Situated at 52 Locke Ave. in this South Jersey community, it's also adjacent to another Endurance project. Next door is the 162,500-sf 121 High Hill Rd., an industrial building that is currently 100% leased to three tenants.

"The building is well-located along the northeastern distribution corridor," says Bill White, CEO of Endurance and, with Cohen, a co-founder of the company. "Additionally, the building's expansion capacity and its rail capacity are significant to many prospective tenants and users."

Endurance focuses on the metro Philadelphia marketplace, and is looking to acquire high-income and value-added office and industrial properties in the $5 million to $80 million range, according to White.