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601 Delran Parkway. Image courtesy of PCCP
Independent pet store Monster Pets has signed a lease for an entire industrial property in Delran, N.J., due to a sudden growth in customer demand. The property owners of the building at 601 Delran Parkway, Endurance Real Estate Group and PCCP, were represented by NAI Mertz’ Scotts Mertz in the lease.
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Albert Corr, senior vice president at Endurance, told Commercial Property Executive that Monster Pets will be using the space for distribution purposes throughout its 8.5-year lease and is already in the process of moving into the 57,930-square-foot industrial property. The building features 22-foot clear heights, a 2,000-amp, 277/480 volt three-phase power connection, 40- by 40-foot column spacing and 2,320 square feet of office space. Situated within Swedes Run Industrial Park, 601 Delran Parkway is also located less than a mile away from U.S. Route 130, which provides access to Philadelphia and Southern New Jersey.
The Monster Pets lease brings the property to 100 percent occupancy just a few months after Endurance and PCCP acquired 601 Delran Parkway. In April, the two companies teamed up to purchase a seven-property industrial portfolio totaling 553,000 square feet, including the Delran warehouse.
Quick lease-up strategy
Prior to the lease, Corr told CPE that Endurance was looking to implement a capital improvements plan with some upgrades to the office space. However, Monster Pets was looking for more space that was move-in ready.
“We identified a tenant so quickly who didn’t need a lot of work, just painting and the carpenting of the office,” Corr told CPE. “Their need was for immediate occupancy because a lot of what they do was with the e-commerce space and they had a big push given what’s been going on.”
Monster Pets was previously located in a nearby roughly 30,000-square-foot warehouse, but required more space due to a rapid expansion. Corr also told CPE that it was a perfect storm of Monster Pets needing more space and looking to stay in the same area, while Endurance had the vacancy.
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