I-81 Industrial Portfolio
325 Centerpoint Blvd; 125 Capital Rd; 550 Oak Ridge Rd; 14-46 Alberigi Dr., Pittston, Hazelton, PA 18640
The investment represents a portfolio of industrial warehouse/distribution buildings totaling approximately 1.6 million square feet on 133.44 acres. The buildings are located in Northeast Pennsylvania (NEPA) along Interstate 81 in the towns of Pittstown, Hazleton and Jessup. One of the four buildings is a 140,800 sf (8.5%) high‐bay flex industrial building and the other three (91.5%) are bulk industrial/distribution buildings. The Portfolio is 100% leased to seven tenants.
The buildings in this portfolio were built in 2007 and 2008. Each building is highly functional and built to meet or exceed current standards required by large corporations and third-party logistics providers.
Investment at a Glance
Property Type: Industrial
Acquisition Date: February 16, 2011
Purchase Price: $90,000,000
Sale Date: November 18, 2014
Sale Price: $105,650,000
No. of Buildings: 4
No. of Stories: 1
Square Footage: 1,644,480 SF
Year Built: 2007 and 2008
Leased Percentage (at the time of Acquisition): 100%