#United States #EQT Real Estate #Scranton Logistics Center #Northeast Pennsylvania #Olyphant

EQT Real Estate Expands Portfolio with New Logistics Center

EQT Real Estate has made a notable acquisition by securing the Scranton North Logistics Center, located in Olyphant, Pennsylvania. This newly constructed facility covers an impressive 1 million square feet and is designed to meet the demands of today's logistics market.

Facility Features and Specifications

The Scranton North Logistics Center boasts modern specifications that are essential for efficient operations. Key features include:

• - 40-foot clear heights
• - 600-foot building depth
• - 185-foot truck court
• - 233 trailer stalls
• - 163 dock-high doors, along with 4 drive-in doors

These attributes make the facility particularly suited for cross-dock operations, minimizing the need for additional office space while maintaining full circulation for trucks.

Fully leased to a high-quality investment-grade tenant, the center serves as a crucial inbound hub for inventory distribution aimed at regional fulfillment centers. This operational design positions it efficiently within the competitive landscape of the industrial real estate market.

Strategic Location

The logistics center is strategically positioned at 1300 Corporate Way, just a mile from US Route 6 and five miles from the intersection of Interstates 81 and 84. This particular corridor is recognized as one of the most competitive big-box industrial markets in the nation, with a vacancy rate below 4% and a scarcity of available spaces.

Matthew Brodnik, the Global Chief Investment Officer at EQT Real Estate, expressed enthusiasm for this acquisition, stating, “We are excited to add Scranton North Logistics Center to our growing portfolio of core, institutional-quality logistics assets. The property’s strategic location and modern specifications reflect the long-term strength of the Northeast corridor.” This acquisition highlights EQT Real Estate’s commitment to investing in high-performing assets nestled in key regional distribution centers.

Significance of the Acquisition

The Scranton North Logistics Center’s modern infrastructure meets the growing demand for logistics space, especially as e-commerce continues to shape distribution strategies. Companies looking to optimize their supply chains are increasingly drawn to locations like this, where connectivity and efficiency are paramount.

The facility not only caters to logistics operations but also serves as an example of the evolving landscape of commercial real estate, driven by the needs of contemporary businesses.

EQT thanked John Plower from JLL along with representatives from the seller, Ryan Cottone and Zach Maguire, for their roles in this significant acquisition.

In summary, EQT Real Estate’s acquisition of the Scranton North Logistics Center is a strategic move designed to enhance their portfolio of assets in a market that stands poised for growth and investment. The center is expected to play a critical role in supporting logistics operations in the heart of Northeast Pennsylvania’s industrial corridor.