Wharton Industrial Inks 170 KSF Logistics Lease
The firm partnered with CenterSquare Investment Management to acquire the Hazleton, Pa., warehouse in 2019.
69 Green Mountain Road. Image via Google Maps
Wharton Industrial, along with partner CenterSquare Investment Management, has signed a 170,000-square-foot lease agreement at 69 Green Mountain Road in Hazleton, Pa., with Patton Warehousing & Logistics. JLL represented the landlord in the transaction.
READ ALSO: Duke Realty Preleases New Jersey Distribution Center
The duo purchased the 589,580-square-foot asset in October 2019. Dating back to 1999, the property sits on a 52.6-acre lot near Interstate 81, within roughly the same distance from New York City and Philadelphia.
The building has a side-loading layout with 82 dock doors equipped with 30,000-pound mechanical levelers. The building also encompasses two drive-in doors, four rail doors, 75-foot speed bays and an ESFR sprinkler system. Offering 33-foot clear heights, the property has a 210-foot truck court and a 305-space parking lot.
Fabric manufacturer PFNonwovens LLC occupies a portion of 260,000 square feet in the building. With the signing of the Patton Warehousing & Logistics deal, the property still has 160,000 square feet with 20 loading docks available for lease.
The JLL team representing Wharton in the deal included Jeff Lockard, Ryan Barros, Larry Maister and Jeff Williams.
Wharton Industrial, a platform of Wharton Equity Partners, was an active player in the Philadelphia market throughout 2020. Last November, the company, along with partner Walton Street Capital, finalized the sale of a 283,500-square-foot, Amazon-occupied last-mile facility in Philly. The duo picked up the property in 2019. The same partnership acquired a 1.2 million-square-foot, 32-building, fully leased industrial portfolio in suburban Philadelphia from The Bloom Organization last August.
You must be logged in to post a comment.