Endurance and Cabot announce the sale of Scranton North Logistics Center

JLL Capital Markets team brokers sale of 1,000,000 s/f warehouse/distribution center

Radnor, PA — An affiliate of Endurance Real Estate Group, LLC (Endurance) and Boston-based Cabot Properties (Cabot), an investor, developer, and operator of logistics properties throughout the United States, Europe, and Asia Pacific, are pleased to announce the disposition of the Scranton North Logistics Center, a 1,000,000 s/f warehouse/distribution center located at 1300 Corporate Way in Olyphant, (property). The property is fully occupied under a long-term lease to a Fortune 2 company. The JLL Capital Markets team of John Plower, Ryan Cottone and Zach Maguire brokered the sale to an undisclosed institutional buyer.

Michael McCarthy, managing director and co-CIO of Value-Add Programs at Cabot Properties, added: “Our team, in partnership with Endurance, was able to deliver this asset on a speculative basis under budget and execute full lease-up of the property, which speaks to our local market relationships and specialized expertise. The successful disposition of Scranton North – Cabot’s largest single-building development project to-date – marks an important milestone for our platform and underscores the appetite for modern, class A facilities in key consumption-focused markets.”

Scranton North is a newly constructed, state-of-the-art, 1,000,000 s/f cross-dock warehouse and distribution facility featuring modern design specifications, best-in-class functionality, and robust electric capacity to accommodate the tenant’s operation. The property benefits from exceptional regional connectivity, with immediate access to major East Coast population centers, multiple seaports, and robust air, rail, and highway networks. The site is located twenty minutes from five major parcel operations and within a 15-minute drive of the Scranton/Wilkes Barre metropolitan area, the 5th largest MSA in Pennsylvania, offering a deep, reliable, and desirable labor pool.