{"id":1004554765,"date":"2021-10-19T04:17:50","date_gmt":"2021-10-19T12:17:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004554765"},"modified":"2022-12-08T05:26:09","modified_gmt":"2022-12-08T13:26:09","slug":"asb-endurance-pay-91m-for-pennsylvania-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/","title":{"rendered":"ASB, Endurance Pay $91M for Pennsylvania Industrial Asset"},"content":{"rendered":"
\"\"<\/a>

York Business Center. Image courtesy of Endurance Real Estate Group<\/p><\/div>\n

A joint venture between ASB Real Estate Investments and Endurance Real Estate Group has purchased a 1.5 million-square-foot industrial center in York, Pa., marking the duo’s fourth investment together. Equity Industrial Partners pocketed $91 million for the three-building property.<\/p>\n

ASB purchased York Business Center on behalf of its $7.4 billion core vehicle dubbed Allegiance Real Estate Fund. The seller acquired the 119-acre property back in 2008, according to CommercialEdge.<\/p>\n

The buildings are near Interstate 83, adjacent to Route 30 and York Mall Shopping Center. The two largest structures have 787,600 and 686,000 square feet, along with 32-foot clear heights and an average ratio of one dock per 7,000 square feet. On-site parking is available for 1,600 cars and 400 trailers.<\/p>\n

The facility is primarily occupied by Harley-Davidson, which conducts just-in-time manufacturing and pre-assembly operations at the site, due to its proximity to the motorcycle company\u2019s York plant. Other tenants include LSC Communications and non-profit health-care delivery company WellSpan. The latter utilizes the property\u2019s 53,670-square-foot office space for its mission critical operations center.<\/p>\n

Investing in Pennsylvania<\/h2>\n

The deal is Endurance\u2019s largest purchase to date, according to President Benjamin Cohen. The Pennsylvania-based group is currently constructing another logistics center in the Harrisburg area. Rising at 2070 N. Union St. in Middletown, Pa. on a 110-acre site, the 251,200-square-foot facility is slated for completion in spring 2022.<\/span><\/p>\n

ASB\u2019s U.S. industrial portfolio includes some 10 million square feet and is 99 percent leased. In September, the partnership sold a 430,373-square-foot industrial asset in Bensalem, Pa. to EQT Exeter, which picked up the property for $42 million<\/a>. ASB and Endurance paid $23.7 million for the facility in late 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

An iconic motorcycle manufacturer occupies most of the 1.5 million-square-foot property.<\/p>\n","protected":false},"author":739,"featured_media":1004554766,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21748,21783,21742,10,1494],"tags":[35055,38596],"class_list":["post-1004554765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-industrial","category-investment","category-latest","category-northeast","category-philadelphia","tag-abs-partners-real-estate","tag-endurance-real-estate-group"],"acf":[],"yoast_head":"\nASB, Endurance Pay $91M for Pennsylvania Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ASB, Endurance Pay $91M for Pennsylvania Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"An iconic motorcycle manufacturer occupies most of the 1.5 million-square-foot property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-19T12:17:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T13:26:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/York-Business-Center-e1634642930972.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/\",\"name\":\"ASB, Endurance Pay $91M for Pennsylvania Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/York-Business-Center-e1634642930972.jpg\",\"datePublished\":\"2021-10-19T12:17:50+00:00\",\"dateModified\":\"2022-12-08T13:26:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/asb-endurance-pay-91m-for-pennsylvania-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/York-Business-Center-e1634642930972.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/10\/York-Business-Center-e1634642930972.jpg\",\"width\":799,\"height\":600,\"caption\":\"York Business Center. 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