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The EQT Real Estate Industrial Core-Plus Fund IV recently purchased Scranton North Logistics Center, a newly constructed 1 million-square-foot logistics facility located in Olyphant.
“We’re excited to add Scranton North Logistics Center to our growing portfolio of core, institutional-quality logistics assets,” Matthew Brodnik, EQT Real Estate global chief investment officer, said. “The property’s strategic location and modern specifications reflect the long-term strength of the Northeast corridor, and reflects our commitment to acquiring high-performing assets in key regional distribution centers.”
The facility is located approximately one mile from US Route 6 and five miles from the confluence of Interstates 81 and 84. It includes 163 dock-high doors with 4 additional drive-in doors, 233 trailer stalls, a 185-foot truck court, minimal office buildout and full truck circulation.
The property is leased to an investment-grade tenant and serves as an inbound cross-dock node for inventory distribution to regional fulfillment centers.
EQT Real Estate was created in 2021 through the combination of EQT and Exeter Property Group. EQT Real Estate is a real estate investor with $58 billion in gross asset value. Its includes more than 2,000 properties and more than 470 million square feet. It acquires, develops, and manages logistics, residential and commercial properties.