Endurance Real Estate Group, LLC, a real estate owner and private developer based out of Radnor, Pennsylvania, is the latest in a growing list of private development companies to make an investment in Greater Hazleton’s Humboldt Industrial Park.
The company recently purchased a 242,960 square-foot Class B manufacturing and distribution facility along the CAN DO Expressway in Humboldt.
Albert J. Corr, senior vice president of Endurance, said the building’s proximity just one mile from Interstate 81 and within easy access of Interstates 80, 78 and 476 played a key role in the company’s decision to purchase the property, as it places the facility within 250 miles of most major markets in the Northeast and Mid-Atlantic regions.
Corr also cited Greater Hazleton’s available labor market and history as an area with longtime companies as reasons his real estate firm purchased the property.
“There are a multitude of companies in Greater Hazleton that have been in the area for a long time. That shows the commitment of these companies to the Greater Hazleton area and the market,” he said. “These companies wouldn’t remain here if they didn’t have strong, local employees. From the numbers that we’ve seen, there are close to 90,000 or 100,000 individuals in the employee base and that’s great for attracting companies to the area.”
Currently, the company plans to lease the building to one tenant but is open to considering restructuring it into a multi-tenant facility. Corr said that the company is receiving inquiries on the facility from many local companies that are excited to have the option of expanding their current operations in the area into another building within the Humboldt Industrial Park.
Officials at Endurance have extensive renovations planned for the building but expect all the improvements to be completed within the next six to nine months.
“Part of the planned improvements for the building include the installation of a new roof, the addition of 13 dock doors on the eastern side of the building, installation of an ESFR sprinkler system, new LED lighting throughout the warehouse area and various office, paving and landscaping improvements,” Corr said. “Once renovations are completed, the facility – which has 32-foot clear-height ceilings and 42’ to 48’ column spacing – will have a total of 24 loading doors, one drive-in door, 20 trailer spots and 185 parking spaces.”
Endurance Real Estate Group, LLC was co-founded by Benjamin Cohen and William White in 2002. The company concentrates its investment and development activities in Philadelphia and the Mid-Atlantic area.