Woodmont Industrial Partners acquires 437,000 s/f warehouse in Pittston, PA
PITTSTON, PA —Woodmont Industrial Partners has acquired a 437,000 s/f warehouse building at 1 Commerce Rd. in Pittston. The former Penguin Random House LLC site, which served as one of the company’s book distribution centers, is now available for lease.
Andrew Houston and Adam Ardise of DTZ represented the seller. The Jones Lang LaSalle Pennsylvania brokerage leasing team, led by Kim Meincke and Lee Fittipaldi, will represent the property.
Woodmont will implement a capital improvement program that will include new trailer parking and the addition of up to 20 loading docks. Additional renovations will give the metal-paneled building a more modern feel and add extra functionality.
“The property appealed to Woodmont because of its prime location in the heart of the Northeast Pennsylvania market. The new Avoca interchange under construction now will connect Commerce Rd. directly to I-81, just south of the property,” said David Iacobucci, managing director of Woodmont Industrial Partners. “The building is highly functional in its current configuration, but adding the new loading docks will further increase its potential.”
Strategically located off of I-81 in Northeast Pennsylvania, the warehouse is situated just east of the Wilkes-Barre Scranton International Airport, and is part of the Northeast Industrial Corridor. The Pennsylvania Department of Transportation has begun construction on a new access Rd. that will connect the exit off of I-81, directly to Commerce Rd. The new interchange will connect the airport to the surrounding industrial parks, making the warehouse even more conveniently located.