ASB and Endurance Real Estate Group acquire industrial complex for $38m

ASB Real Estate Investments has acquired a 408,000-square-foot industrial complex located 10 miles northwest of downtown in Sewickley along I-79 for $38 million in joint venture with an affiliate of Endurance Real Estate Group LLC.

The Seller was Bentall Kennedy, a subsidiary of Sun Life Investment Management.

ASB made the acquisition on behalf of its Allegiance Real Estate Fund, a $7.5 billion core vehicle.

The seven-building complex, the 79 North Industrial Portfolio, is 99 percent leased to 21 tenants including Amazon, Verizon, Chrysler, and Safelite Glass. The acquisition also includes three land parcels, suitable for future development. Buildings range in size from 10,000 square feet to 80,000 square feet and are well-suited to major tenants serving the P